LSV Asset Management Acquires 197,400 Shares of Avnet, Inc. $AVT

LSV Asset Management lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 7.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,811,171 shares of the company’s stock after buying an additional 197,400 shares during the quarter. LSV Asset Management’s holdings in Avnet were worth $135,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Avnet by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after purchasing an additional 214,290 shares during the last quarter. American Century Companies Inc. increased its position in shares of Avnet by 3.4% in the third quarter. American Century Companies Inc. now owns 3,751,726 shares of the company’s stock valued at $196,140,000 after acquiring an additional 124,466 shares during the period. AQR Capital Management LLC increased its position in shares of Avnet by 34.8% in the third quarter. AQR Capital Management LLC now owns 2,265,679 shares of the company’s stock valued at $117,974,000 after acquiring an additional 585,141 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Avnet by 5.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,011,676 shares of the company’s stock valued at $105,170,000 after acquiring an additional 101,873 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Avnet by 13.9% in the third quarter. Bank of America Corp DE now owns 1,041,359 shares of the company’s stock valued at $54,442,000 after acquiring an additional 127,118 shares during the period. Institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their price objective on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, Truist Financial boosted their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Avnet currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

Avnet Trading Up 3.0%

Shares of AVT opened at $85.91 on Friday. The firm’s 50-day moving average price is $71.79 and its 200-day moving average price is $60.17. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 0.38 and a beta of 1.09. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $87.46.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts anticipate that Avnet, Inc. will post 5.12 EPS for the current year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. Avnet’s payout ratio is presently 54.47%.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Avnet Profile

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.