Denali Advisors LLC Has $809,000 Holdings in Avnet, Inc. $AVT

Denali Advisors LLC trimmed its position in shares of Avnet, Inc. (NASDAQ:AVT) by 48.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,110 shares of the company’s stock after selling 8,693 shares during the quarter. Denali Advisors LLC’s holdings in Avnet were worth $809,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVT. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Avnet in the 2nd quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in Avnet during the 4th quarter worth approximately $28,000. BOKF NA increased its holdings in Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. State of Wyoming acquired a new stake in Avnet during the 2nd quarter valued at $37,000. Finally, Hantz Financial Services Inc. increased its holdings in Avnet by 62.0% during the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock valued at $41,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analyst Ratings Changes

AVT has been the topic of a number of recent analyst reports. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wells Fargo & Company raised their target price on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Finally, Truist Financial upped their price target on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Avnet currently has an average rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the transaction, the chief executive officer owned 168,923 shares of the company’s stock, valued at $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.

Avnet Stock Performance

Shares of Avnet stock opened at $86.89 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The firm has a market cap of $7.13 billion, a P/E ratio of 21.78, a P/E/G ratio of 0.29 and a beta of 1.09. The firm has a 50 day simple moving average of $89.39 and a 200 day simple moving average of $78.19. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $100.00.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The firm had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Sell-side analysts predict that Avnet, Inc. will post 9.66 earnings per share for the current fiscal year.

Avnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, September 9th. This is an increase from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.7%. Avnet’s dividend payout ratio is presently 35.09%.

About Avnet

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.