Insider Selling: Avnet (NASDAQ:AVT) CEO Sells $1,983,446.40 in Stock

Avnet, Inc. (NASDAQ:AVT) CEO Philip Gallagher sold 23,920 shares of Avnet stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the sale, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Avnet Stock Up 1.5%

AVT opened at $82.09 on Friday. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $84.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The company has a market capitalization of $6.73 billion, a P/E ratio of 31.94, a P/E/G ratio of 0.59 and a beta of 1.09. The stock has a fifty day moving average of $67.26 and a 200-day moving average of $57.65.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.15. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, equities analysts expect that Avnet, Inc. will post 4.92 EPS for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.7%. Avnet’s dividend payout ratio (DPR) is currently 54.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in shares of Avnet during the third quarter valued at about $616,000. Candriam S.C.A. acquired a new stake in shares of Avnet during the third quarter valued at about $2,064,000. Vanguard Group Inc. boosted its stake in shares of Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after purchasing an additional 214,290 shares in the last quarter. Polaris Capital Management LLC acquired a new stake in shares of Avnet during the third quarter valued at about $1,861,000. Finally, Bessemer Group Inc. boosted its stake in shares of Avnet by 7,002.0% during the third quarter. Bessemer Group Inc. now owns 28,053 shares of the company’s stock valued at $1,466,000 after purchasing an additional 27,658 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AVT shares. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Truist Financial raised their price target on Avnet to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company raised their price target on Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Avnet presently has an average rating of “Moderate Buy” and an average price target of $77.50.

About Avnet

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.