VIRGINIA RETIREMENT SYSTEMS ET Al Sells 28,000 Shares of Avnet, Inc. $AVT

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Avnet, Inc. (NASDAQ:AVT) by 85.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,800 shares of the company’s stock after selling 28,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Avnet were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Avnet during the 2nd quarter valued at about $51,495,000. AQR Capital Management LLC grew its position in Avnet by 25.9% during the second quarter. AQR Capital Management LLC now owns 1,680,538 shares of the company’s stock valued at $88,312,000 after acquiring an additional 345,721 shares during the last quarter. Woodline Partners LP raised its stake in shares of Avnet by 44.9% during the first quarter. Woodline Partners LP now owns 1,055,356 shares of the company’s stock worth $50,752,000 after acquiring an additional 327,195 shares in the last quarter. SG Capital Management LLC purchased a new position in shares of Avnet during the second quarter worth approximately $16,941,000. Finally, Boston Partners lifted its holdings in shares of 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 acquiring an additional 239,226 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Up 0.8%

Shares of AVT opened at $49.25 on Wednesday. The stock has a market capitalization of $4.01 billion, a P/E ratio of 18.38, a PEG ratio of 0.38 and a beta of 0.92. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $57.24. The company has a quick ratio of 1.12, a current ratio of 2.36 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $48.09 and a two-hundred day simple moving average of $51.45.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.73 billion. Avnet had a net margin of 1.04% and a return on equity of 5.91%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. On average, research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were issued a $0.35 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $1.40 annualized dividend and a yield of 2.8%. Avnet’s dividend payout ratio (DPR) is 52.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Avnet from $54.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avnet in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Avnet from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $49.33.

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.