Hsbc Holdings PLC Acquires New Stake in Avnet, Inc. $AVT

Hsbc Holdings PLC bought a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 130,747 shares of the company’s stock, valued at approximately $11,500,000.

A number of other institutional investors have also recently added to or reduced their stakes in AVT. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Avnet during the 2nd quarter valued at $25,000. State of Wyoming acquired a new stake in shares of Avnet in the second quarter valued at $37,000. Summit Securities Group LLC acquired a new stake in shares of Avnet in the fourth quarter valued at $28,000. BOKF NA boosted its stake in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after buying an additional 536 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after buying an additional 185 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avnet

In related news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the sale, the chief executive officer owned 168,923 shares in the company, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the transaction, the senior vice president directly owned 76,674 shares of the company’s stock, valued at $6,985,001.40. This represents a 29.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Avnet Stock Performance

AVT opened at $88.63 on Friday. The firm has a market cap of $7.27 billion, a PE ratio of 22.21, a P/E/G ratio of 0.28 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $89.13 and a 200-day simple moving average of $79.13. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $100.00.

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

Avnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.37 per share. This is an increase from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 9th. Avnet’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Upgrades and Downgrades

AVT has been the topic of a number of research analyst reports. Wall Street Zen raised Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Truist Financial upped their price target on shares of Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company raised their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Finally, Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Avnet has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

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.