Geode Capital Management LLC Lowers Position in Avnet, Inc. $AVT

Geode Capital Management LLC decreased its stake in Avnet, Inc. (NASDAQ:AVT) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,780,508 shares of the company’s stock after selling 74,444 shares during the period. Geode Capital Management LLC’s holdings in Avnet were worth $86,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVT. Hantz Financial Services Inc. lifted its stake in shares of 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 during the period. BOKF NA lifted its stake in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the period. MAI Capital Management lifted its stake in shares of 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 purchasing an additional 235 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 purchasing an additional 258 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Price Performance

AVT opened at $86.81 on Monday. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 52-week low of $44.25 and a 52-week high of $95.26. The company has a 50 day moving average of $77.44 and a two-hundred day moving average of $63.17. The company has a market cap of $7.12 billion, a P/E ratio of 33.78, a P/E/G ratio of 0.39 and a beta of 1.08.

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

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date 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 the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AVT has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Avnet has a consensus rating of “Moderate Buy” and an average target price of $89.00.

Avnet 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.