Hyperion Capital Advisors LP Makes New Investment in Avnet, Inc. $AVT

Hyperion Capital Advisors LP purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, HoldingsChannel.com reports. The fund purchased 7,200 shares of the company’s stock, valued at approximately $640,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVT. Wishbone Management LP acquired a new stake in shares of Avnet in the 2nd quarter worth $58,177,100,000. Algert Global LLC raised its stake in Avnet by 7.5% in the second quarter. Algert Global LLC now owns 279,474 shares of the company’s stock valued at $24,823,000 after buying an additional 19,594 shares during the last quarter. Cibc World Market Inc. purchased a new stake in Avnet in the second quarter valued at about $1,895,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Avnet in the second quarter worth about $22,225,000. Finally, Globeflex Capital L P acquired a new stake in Avnet in the second quarter worth about $220,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Avnet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Wells Fargo & Company boosted their target price on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Avnet currently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Activity

In related news, CEO Philip R. Gallagher sold 51,900 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the sale, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at $16,632,158.58. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total value of $2,919,937.20. Following the transaction, the senior vice president owned 76,674 shares of the company’s stock, valued at approximately $6,985,001.40. This represents a 29.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

Avnet Trading Down 2.7%

Shares of Avnet stock opened at $86.26 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The firm has a fifty day moving average price of $89.24 and a 200 day moving average price of $78.53. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00. The stock has a market cap of $7.08 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.80 by $0.48. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 47.7% on a year-over-year basis. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities research analysts predict that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be issued a $0.37 dividend. This is a boost from Avnet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.48 annualized dividend and a dividend yield of 1.7%. Avnet’s payout ratio is presently 35.09%.

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.