SG Capital Management LLC Acquires Shares of 319,152 Avnet, Inc. $AVT

SG Capital Management LLC acquired a new stake in shares of Avnet, Inc. (NASDAQ:AVT) in the second quarter, HoldingsChannel reports. The firm acquired 319,152 shares of the company’s stock, valued at approximately $16,941,000. Avnet accounts for approximately 1.2% of SG Capital Management LLC’s holdings, making the stock its 19th biggest holding.

Other large investors have also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its position in shares of Avnet by 2.9% during the second quarter. Pzena Investment Management LLC now owns 7,341,299 shares of the company’s stock valued at $389,676,000 after buying an additional 209,003 shares during the period. American Century Companies Inc. boosted its holdings in Avnet by 10.8% during the 1st quarter. American Century Companies Inc. now owns 3,880,865 shares of the company’s stock valued at $186,631,000 after acquiring an additional 378,440 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in Avnet by 5.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 2,581,227 shares of the company’s stock valued at $124,131,000 after acquiring an additional 134,372 shares during the last quarter. Earnest Partners LLC increased its stake in Avnet by 3.4% in the first quarter. Earnest Partners LLC now owns 1,520,075 shares of the company’s stock worth $73,100,000 after purchasing an additional 50,041 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Avnet by 7.9% during the first quarter. AQR Capital Management LLC now owns 1,334,817 shares of the company’s stock valued at $63,043,000 after purchasing an additional 97,466 shares during the period. 95.78% of the stock is owned by institutional investors.

Avnet Price Performance

Shares of AVT stock opened at $46.45 on Friday. The stock’s 50-day moving average is $51.02 and its 200 day moving average is $52.05. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $57.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.36 and a quick ratio of 1.16. The company has a market cap of $3.78 billion, a P/E ratio of 17.33, a PEG ratio of 0.36 and a beta of 1.05.

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

Avnet Increases Dividend

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

Analyst Upgrades and Downgrades

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

Avnet Company 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.