Avnet, Inc. (NASDAQ:AVT) Sees Large Decline in Short Interest

Avnet, Inc. (NASDAQ:AVT) was the recipient of a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 7,139,957 shares, a decrease of 17.6% from the January 29th total of 8,667,505 shares. Based on an average daily trading volume, of 1,521,633 shares, the days-to-cover ratio is currently 4.7 days. Currently, 8.9% of the company’s shares are short sold. Currently, 8.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,521,633 shares, the days-to-cover ratio is currently 4.7 days.

Institutional Trading of Avnet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. grew its stake in Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Avnet in the fourth quarter valued at $28,000. BOKF NA raised its position in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after acquiring an additional 536 shares in the last quarter. MAI Capital Management lifted its stake in Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after acquiring an additional 235 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Avnet by 53.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research report on Thursday, January 29th. Weiss Ratings lowered Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Truist Financial increased their price objective on shares of Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $54.33.

Avnet Trading Down 1.9%

NASDAQ AVT opened at $63.77 on Wednesday. Avnet has a 52 week low of $39.22 and a 52 week high of $68.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 2.07. The stock’s 50 day moving average price is $57.50 and its two-hundred day moving average price is $53.05. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 0.48 and a beta of 0.91.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.03 billion. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, analysts anticipate that Avnet will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.40 annualized dividend and a yield of 2.2%. Avnet’s payout ratio is 57.38%.

Avnet Company 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.