ProShare Advisors LLC Buys 10,567 Shares of Avnet, Inc. $AVT

ProShare Advisors LLC increased its stake in Avnet, Inc. (NASDAQ:AVT) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,899 shares of the company’s stock after acquiring an additional 10,567 shares during the quarter. ProShare Advisors LLC owned 0.17% of Avnet worth $6,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVT. Hantz Financial Services Inc. increased its stake in Avnet by 132.7% during the 3rd 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. BOKF NA increased its stake 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. MAI Capital Management increased its stake in Avnet by 53.7% during the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Avnet by 53.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

AVT has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Raymond James Financial restated a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company boosted their price target on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.00.

Avnet Price Performance

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

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

Avnet Dividend Announcement

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

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction on 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 transaction, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

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.