Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Brandes Investment Partners LP

Brandes Investment Partners LP boosted its stake in Avnet, Inc. (NASDAQ:AVT) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,178 shares of the company’s stock after acquiring an additional 1,436 shares during the period. Brandes Investment Partners LP’s holdings in Avnet were worth $794,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AVT. Principal Securities Inc. increased its stake in Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Avnet by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after purchasing an additional 222 shares during the last quarter. Highland Capital Management LLC increased its stake in Avnet by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock valued at $222,000 after purchasing an additional 261 shares during the last quarter. GAMMA Investing LLC increased its stake in Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in Avnet by 2.3% during the fourth quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company’s stock valued at $871,000 after purchasing an additional 381 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Up 2.5 %

Avnet stock opened at $47.79 on Friday. The company has a 50-day simple moving average of $51.17 and a 200-day simple moving average of $52.80. The firm has a market capitalization of $4.13 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a one year low of $45.50 and a one year high of $59.24.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, equities analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.33 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.76%. Avnet’s dividend payout ratio is presently 37.39%.

Analyst Ratings Changes

AVT has been the subject of several recent research reports. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial lowered their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, January 30th.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.