Avnet, Inc. (NASDAQ:AVT) Holdings Decreased by EMC Capital Management

EMC Capital Management cut its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 38.5% in the third quarter, HoldingsChannel reports. The fund owned 5,623 shares of the company’s stock after selling 3,526 shares during the quarter. EMC Capital Management’s holdings in Avnet were worth $305,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Avnet by 35.2% in the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after acquiring an additional 214 shares during the last quarter. nVerses Capital LLC acquired a new position in Avnet in the 2nd quarter worth about $77,000. GAMMA Investing LLC raised its stake 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 in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Avnet by 729.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock valued at $79,000 after buying an additional 1,350 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Avnet by 90.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company’s stock valued at $88,000 after buying an additional 814 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVT shares. Stifel Nicolaus increased their price objective on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Truist Financial raised their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company upped their price objective on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Friday, August 9th.

Avnet Trading Up 0.6 %

Shares of AVT stock opened at $54.54 on Friday. Avnet, Inc. has a 12 month low of $42.67 and a 12 month high of $59.24. The company has a market cap of $4.77 billion, a PE ratio of 14.28 and a beta of 1.15. The company has a quick ratio of 1.10, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $53.50 and its two-hundred day moving average is $52.66.

Avnet (NASDAQ:AVT) last posted its 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 business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. Avnet’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. Equities analysts predict that Avnet, Inc. will post 4.57 EPS for the current year.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.33 dividend. The ex-dividend date was Wednesday, September 11th. This is a positive change from Avnet’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.42%. Avnet’s payout ratio is presently 34.56%.

About Avnet

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.