Regentatlantic Capital LLC lowered its position in Avnet, Inc. (NYSE:AVT) by 20.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,274 shares of the technology company’s stock after selling 20,819 shares during the period. Regentatlantic Capital LLC owned about 0.06% of Avnet worth $3,082,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Weaver C. Barksdale & Associates Inc. boosted its stake in shares of Avnet by 11.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 2,608 shares of the technology company’s stock worth $101,000 after buying an additional 262 shares during the last quarter. CHICAGO TRUST Co NA acquired a new position in shares of Avnet during the first quarter valued at approximately $215,000. Smith Salley & Associates acquired a new position in shares of Avnet during the first quarter valued at approximately $216,000. Anchor Capital Advisors LLC increased its position in shares of Avnet by 8.4% in the first quarter. Anchor Capital Advisors LLC now owns 4,785 shares of the technology company’s stock valued at $219,000 after buying an additional 370 shares during the last quarter. Finally, Bellwether Investment Group LLC increased its position in shares of Avnet by 16.1% in the first quarter. Bellwether Investment Group LLC now owns 5,310 shares of the technology company’s stock valued at $243,000 after buying an additional 735 shares during the last quarter. Institutional investors and hedge funds own 98.01% of the company’s stock.
Shares of Avnet, Inc. (NYSE:AVT) opened at 39.13 on Thursday. The stock has a 50 day moving average price of $38.92 and a 200 day moving average price of $42.33. Avnet, Inc. has a one year low of $35.96 and a one year high of $51.50. The stock has a market capitalization of $4.89 billion, a P/E ratio of 9.40 and a beta of 1.04.
Avnet (NYSE:AVT) last announced its earnings results on Thursday, April 27th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.46 billion. Avnet had a return on equity of 9.24% and a net margin of 2.83%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. Equities analysts forecast that Avnet, Inc. will post $3.18 earnings per share for the current year.
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Several analysts recently commented on AVT shares. Deutsche Bank AG reiterated a “hold” rating and issued a $40.00 target price (down from $47.00) on shares of Avnet in a report on Saturday, April 29th. Longbow Research cut Avnet from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. BidaskClub upgraded Avnet from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Bank of America Corporation lowered Avnet from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $44.00 to $40.00 in a research report on Friday, July 14th. Finally, SunTrust Banks, Inc. lowered Avnet from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $39.00 in a research report on Friday, April 28th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.22.
In other news, Director James A. Lawrence acquired 408,451 shares of Avnet stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average price of $36.99 per share, for a total transaction of $15,108,602.49. Following the completion of the transaction, the director now directly owns 416,549 shares in the company, valued at $15,408,147.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin M. Moriarty acquired 6,933 shares of Avnet stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $36.08 per share, with a total value of $250,142.64. The disclosure for this purchase can be found here. Corporate insiders own 1.47% of the company’s stock.
Avnet Company Profile
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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