GAMMA Investing LLC Buys Shares of 1,241 Avnet, Inc. (NASDAQ:AVT)

GAMMA Investing LLC bought a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the fourth quarter, HoldingsChannel reports. The fund bought 1,241 shares of the company’s stock, valued at approximately $63,000.

A number of other large investors have also recently bought and sold shares of AVT. Invesco Ltd. boosted its holdings in shares of Avnet by 51.2% during the third quarter. Invesco Ltd. now owns 1,521,195 shares of the company’s stock worth $73,306,000 after purchasing an additional 515,095 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Avnet by 971.5% during the third quarter. Assenagon Asset Management S.A. now owns 437,210 shares of the company’s stock worth $21,069,000 after purchasing an additional 396,405 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Avnet by 586.5% during the third quarter. Victory Capital Management Inc. now owns 259,092 shares of the company’s stock worth $12,486,000 after purchasing an additional 221,353 shares during the last quarter. Tudor Investment Corp Et Al boosted its holdings in shares of Avnet by 212.8% during the third quarter. Tudor Investment Corp Et Al now owns 228,857 shares of the company’s stock worth $11,029,000 after purchasing an additional 155,685 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Avnet by 5.3% during the third quarter. LSV Asset Management now owns 3,077,468 shares of the company’s stock worth $148,303,000 after purchasing an additional 154,700 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Down 1.6 %

Shares of AVT opened at $48.07 on Thursday. The company has a current ratio of 2.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.34 billion, a P/E ratio of 6.64, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. The stock’s fifty day simple moving average is $47.77 and its 200 day simple moving average is $47.37. Avnet, Inc. has a twelve month low of $40.00 and a twelve month high of $51.65.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a return on equity of 13.60% and a net margin of 2.62%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period last year, the business posted $2.00 earnings per share. On average, equities research analysts forecast that Avnet, Inc. will post 5.25 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.58%. The ex-dividend date was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 17.13%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group decreased their price objective on Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.50.

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.