Avnet, Inc. $AVT Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Avnet, Inc. (NASDAQ:AVT) by 18.9% in the fourth quarter, Holdings Channel reports. The firm owned 172,313 shares of the company’s stock after selling 40,263 shares during the period. Legal & General Group Plc’s holdings in Avnet were worth $8,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Avnet by 34.8% during the third quarter. AQR Capital Management LLC now owns 2,265,679 shares of the company’s stock valued at $117,974,000 after buying an additional 585,141 shares in the last quarter. Vanguard Group Inc. grew its stake in Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock worth $563,738,000 after buying an additional 214,290 shares during the period. LSV Asset Management grew its stake in Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock worth $135,161,000 after buying an additional 197,400 shares during the period. Millennium Management LLC increased its position in shares of Avnet by 86.9% in the third quarter. Millennium Management LLC now owns 373,422 shares of the company’s stock worth $19,523,000 after acquiring an additional 173,579 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Avnet by 13.9% in the 3rd quarter. Bank of America Corp DE now owns 1,041,359 shares of the company’s stock valued at $54,442,000 after acquiring an additional 127,118 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Price Performance

Shares of AVT stock opened at $86.81 on Friday. The company has a market capitalization of $7.12 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 0.40 and a beta of 1.08. The firm has a fifty day simple moving average of $77.44 and a 200-day simple moving average of $63.05. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $95.26.

Avnet (NASDAQ:AVT) last released its quarterly earnings results 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 firm had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities research analysts anticipate that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. Avnet’s payout ratio is presently 54.47%.

Insider Activity

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the transaction, the chief executive officer owned 145,003 shares in the company, valued at approximately $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVT. Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.00.

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.