Avnet, Inc. (NASDAQ:AVT) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 176,500 shares of the company’s stock after selling 1,300 shares during the period. Swiss National Bank’s holdings in Avnet were worth $9,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Avnet by 35.2% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after purchasing an additional 214 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Avnet during the 3rd quarter valued at about $51,000. nVerses Capital LLC acquired a new stake in Avnet in the 2nd quarter valued at about $77,000. Versant Capital Management Inc lifted its stake in Avnet by 729.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock worth $79,000 after purchasing an additional 1,350 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Avnet by 68.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock worth $79,000 after purchasing an additional 620 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVT has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Truist Financial raised their price objective on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus increased their target price on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, August 9th.

Avnet Stock Up 1.3 %

Shares of NASDAQ AVT opened at $54.45 on Monday. The business has a 50-day moving average of $54.05 and a two-hundred day moving average of $53.29. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.61 earnings per share. On average, analysts forecast that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is 34.55%.

Avnet 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.