Gladius Capital Management LP Has $62,000 Position in Avnet, Inc. (NASDAQ:AVT)

Gladius Capital Management LP cut its stake in Avnet, Inc. (NASDAQ:AVT) by 75.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,140 shares of the company’s stock after selling 3,462 shares during the quarter. Gladius Capital Management LP’s holdings in Avnet were worth $62,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in Avnet by 316.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 45,630 shares of the company’s stock valued at $2,349,000 after acquiring an additional 34,675 shares during the period. Vanguard Group Inc. increased its stake in shares of Avnet by 5.0% during the first quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock worth $542,918,000 after purchasing an additional 519,478 shares during the period. Acadian Asset Management LLC lifted its holdings in Avnet by 21.2% during the 1st quarter. Acadian Asset Management LLC now owns 170,937 shares of the company’s stock worth $8,474,000 after purchasing an additional 29,884 shares during the last quarter. Atria Investments Inc acquired a new stake in Avnet during the 1st quarter worth approximately $1,872,000. Finally, TCW Group Inc. boosted its stake in Avnet by 72.5% in the 2nd quarter. TCW Group Inc. now owns 58,611 shares of the company’s stock valued at $3,018,000 after purchasing an additional 24,636 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Up 0.1 %

Shares of NASDAQ AVT opened at $53.07 on Friday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 13.89, a PEG ratio of 0.98 and a beta of 1.16. The stock’s fifty day moving average is $53.73 and its 200 day moving average is $53.15. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the firm earned $1.61 EPS. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. Sell-side analysts forecast that Avnet, Inc. will post 4.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.