Headlands Technologies LLC Purchases New Position in Avnet, Inc. (NASDAQ:AVT)

Headlands Technologies LLC purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,790 shares of the company’s stock, valued at approximately $146,000.

Other large investors have also added to or reduced their stakes in the company. Synergy Investment Management LLC bought a new stake in Avnet in the fourth quarter worth $38,000. Principal Securities Inc. grew its stake in shares of Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Avnet by 1,768.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock worth $113,000 after buying an additional 2,051 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after buying an additional 341 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Avnet by 55.7% during the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Avnet stock opened at $42.26 on Friday. Avnet, Inc. has a 1-year low of $40.93 and a 1-year high of $59.24. The company’s 50-day moving average is $49.57 and its 200 day moving average is $52.34. The firm has a market capitalization of $3.66 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

Avnet (NASDAQ:AVT) last issued its quarterly 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 return on equity of 7.49% and a net margin of 1.41%. Research analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 3.12%. Avnet’s payout ratio is 37.39%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial cut their target price on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th.

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.