First National Bank of Omaha Makes New Investment in Avnet, Inc. $AVT

First National Bank of Omaha purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, Holdings Channel.com reports. The firm purchased 36,486 shares of the company’s stock, valued at approximately $3,241,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in shares of Avnet during the fourth quarter valued at $602,000. Jupiter Asset Management Ltd. purchased a new position in Avnet in the 4th quarter worth $4,865,000. GSA Capital Partners LLP lifted its position in Avnet by 255.2% during the 4th quarter. GSA Capital Partners LLP now owns 41,830 shares of the company’s stock worth $2,011,000 after acquiring an additional 30,052 shares during the period. Edgestream Partners L.P. acquired a new stake in Avnet during the 1st quarter worth about $2,400,000. Finally, LSV Asset Management grew its stake in Avnet by 7.6% during the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after purchasing an additional 197,400 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

Shares of NASDAQ AVT opened at $93.40 on Wednesday. The company has a market capitalization of $7.66 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. The company’s fifty day moving average price is $89.37 and its 200 day moving average price is $77.84. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. The company had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, research analysts predict that Avnet, Inc. will post 9.66 earnings per share for the current year.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 51,900 shares of Avnet stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the transaction, the chief executive officer owned 168,923 shares in the company, valued at $16,632,158.58. The trade was a 23.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AVT shares. Truist Financial increased their price objective on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company lifted their target price on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Finally, Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.25.

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.