Strs Ohio Cuts Stock Position in Avnet, Inc. $AVT

Strs Ohio decreased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 95.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,992 shares of the company’s stock after selling 39,519 shares during the period. Strs Ohio’s holdings in Avnet were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Avnet in the second quarter valued at about $51,495,000. AQR Capital Management LLC lifted its stake in Avnet by 25.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,680,538 shares of the company’s stock valued at $88,312,000 after buying an additional 345,721 shares in the last quarter. SG Capital Management LLC purchased a new position in Avnet in the 2nd quarter valued at about $16,941,000. Boston Partners boosted its holdings in Avnet by 47.8% in the 2nd quarter. Boston Partners now owns 739,195 shares of the company’s stock worth $39,095,000 after buying an additional 239,226 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in Avnet by 2.9% during the 2nd quarter. Pzena Investment Management LLC now owns 7,341,299 shares of the company’s stock worth $389,676,000 after buying an additional 209,003 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 1.6%

Shares of AVT opened at $63.99 on Thursday. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $64.79. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $51.07 and a two-hundred day simple moving average of $51.37. The company has a market capitalization of $5.24 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 0.47 and a beta of 0.93.

Avnet (NASDAQ:AVT) last announced 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. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. Avnet’s quarterly revenue was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, December 3rd. Avnet’s payout ratio is presently 57.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research raised Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Wells Fargo & Company raised their price objective on Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a report on Thursday, January 29th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Truist Financial boosted their price target 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. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Avnet has an average rating of “Reduce” and a consensus target price of $54.33.

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.