Y Intercept Hong Kong Ltd Acquires Shares of 11,452 Avnet, Inc. $AVT

Y Intercept Hong Kong Ltd acquired a new stake in shares of Avnet, Inc. (NASDAQ:AVT) in the first quarter, HoldingsChannel reports. The firm acquired 11,452 shares of the company’s stock, valued at approximately $706,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in Avnet by 49.3% during the first quarter. Janney Montgomery Scott LLC now owns 6,919 shares of the company’s stock valued at $426,000 after buying an additional 2,286 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Avnet in the 1st quarter worth approximately $202,000. Louisiana State Employees Retirement System purchased a new stake in shares of Avnet during the 1st quarter worth approximately $1,460,000. Ritholtz Wealth Management boosted its position in shares of Avnet by 13.8% during the 1st quarter. Ritholtz Wealth Management now owns 26,486 shares of the company’s stock valued at $1,632,000 after acquiring an additional 3,214 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Avnet by 126.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 146,267 shares of the company’s stock valued at $9,013,000 after acquiring an additional 81,644 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of Avnet stock opened at $85.15 on Tuesday. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 0.28 and a beta of 1.09. 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 stock has a 50 day moving average price of $86.59 and a 200-day moving average price of $70.37. Avnet, Inc. has a one year low of $44.25 and a one year high of $95.26.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.Avnet’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities analysts expect that Avnet, Inc. will post 5.12 EPS for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Avnet’s dividend payout ratio is currently 54.47%.

Insider Activity

In other news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the sale, the chief executive officer owned 145,003 shares in the company, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AVT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a report on Tuesday, June 16th. Wells Fargo & Company increased their price objective on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $66.00 to $96.00 in a research note on Wednesday, May 13th. Zacks Research downgraded shares of Avnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Truist Financial upped their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.00.

Avnet Profile

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.