Greenland Capital Management LP Acquires Shares of 12,613 Avnet, Inc. $AVT

Greenland Capital Management LP acquired a new stake in Avnet, Inc. (NASDAQ:AVT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,613 shares of the company’s stock, valued at approximately $1,120,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Avnet during the 2nd quarter valued at $916,146,000. Pzena Investment Management LLC bought a new stake in Avnet in the second quarter worth $277,153,000. Norges Bank purchased a new position in Avnet during the fourth quarter worth $62,393,000. Bank of New York Mellon Corp bought a new position in Avnet during the second quarter valued at $74,897,000. Finally, AQR Capital Management LLC increased its position in Avnet by 30.7% during the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock valued at $142,394,000 after acquiring an additional 695,929 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total value of $5,110,074.00. Following the transaction, the chief executive officer directly owned 168,923 shares in the company, valued at $16,632,158.58. This represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the transaction, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Raymond James Financial reaffirmed 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 report on Friday, August 7th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Finally, Truist Financial raised their price objective on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Avnet presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Avnet News Roundup

Here are the key news stories impacting Avnet this week:

• Positive Sentiment: Broad-based earnings estimate increases: Zacks Research raised its EPS forecasts across multiple periods, including Q1 2027 to $2.85 from $1.53, Q2 2027 to $2.16 from $1.74, Q3 2027 to $1.96 from $1.55, and FY2027 to $9.00 from $6.65. The firm also lifted FY2028 estimates to $9.79 from $7.19 and projects FY2029 EPS of $10.15. Zacks maintains a “Strong-Buy” rating. Zacks Research earnings estimates
• Positive Sentiment: Higher forward-quarter expectations: The firm increased its Q1 2028 forecast to $3.14 from $1.85, Q2 2028 to $2.35 from $1.89, Q3 2028 to $2.06 from $1.66, and Q4 2028 to $2.23 from $1.79. These revisions point to stronger anticipated earnings momentum than previously expected. Avnet forward earnings revisions
• Positive Sentiment: Dividend increase: Avnet declared a quarterly dividend of $0.37 per share, up from $0.35, representing a 5.7% increase. The dividend is payable September 23 to shareholders of record September 9, with an indicated annual yield of approximately 1.7%. Avnet increases quarterly dividend
• Neutral Sentiment: Valuation remains a focus: Zacks is examining whether Avnet is undervalued based on value, growth, momentum, and earnings-estimate trends. The discussion could attract value-oriented investors, although the article details provided do not include a specific valuation conclusion. Are Investors Undervaluing Avnet

Avnet Stock Performance

Shares of Avnet stock opened at $88.64 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $89.35 and its two-hundred day moving average is $78.27. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00. The company has a market capitalization of $7.27 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.48. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. As a group, analysts expect that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, September 9th. This is a positive change from Avnet’s previous quarterly dividend of $0.35. Avnet’s dividend payout ratio (DPR) is 35.09%.

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.