ProShare Advisors LLC Decreases Stock Holdings in Avnet, Inc. $AVT

ProShare Advisors LLC lessened its holdings in Avnet, Inc. (NASDAQ:AVT) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,328 shares of the company’s stock after selling 11,309 shares during the quarter. ProShare Advisors LLC owned approximately 0.14% of Avnet worth $6,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. boosted its position in shares of Avnet by 10.8% during the 1st quarter. American Century Companies Inc. now owns 3,880,865 shares of the company’s stock worth $186,631,000 after acquiring an additional 378,440 shares in the last quarter. Woodline Partners LP lifted its stake in Avnet by 44.9% during the first quarter. Woodline Partners LP now owns 1,055,356 shares of the company’s stock worth $50,752,000 after purchasing an additional 327,195 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Avnet by 2.9% in the second quarter. Pzena Investment Management LLC now owns 7,341,299 shares of the company’s stock valued at $389,676,000 after purchasing an additional 209,003 shares in the last quarter. Nuveen LLC acquired a new position in Avnet in the first quarter valued at approximately $9,703,000. Finally, Gotham Asset Management LLC increased its stake in Avnet by 96.1% in the first quarter. Gotham Asset Management LLC now owns 369,807 shares of the company’s stock valued at $17,784,000 after purchasing an additional 181,246 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Down 0.9%

AVT stock opened at $46.75 on Friday. The company has a fifty day moving average price of $51.16 and a 200 day moving average price of $52.08. Avnet, Inc. has a 12 month low of $39.22 and a 12 month high of $57.24. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.36 and a quick ratio of 1.16.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Avnet had a net margin of 1.04% and a return on equity of 5.91%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the previous year, the business posted $0.92 earnings per share. Avnet’s quarterly revenue was up 5.3% on a year-over-year basis. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. Sell-side analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Wednesday, September 17th were given a $0.35 dividend. This is a boost from Avnet’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, September 17th. This represents a $1.40 annualized dividend and a yield of 3.0%. Avnet’s payout ratio is presently 52.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVT. Zacks Research upgraded shares of Avnet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Bank of America boosted their price target on shares of Avnet from $48.00 to $50.00 and gave the company an “underperform” rating in a research report on Monday, August 11th. Truist Financial raised their price objective on Avnet from $54.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Avnet in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $49.33.

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.