UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 81,446 Shares of Avnet, Inc. $AVT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Avnet, Inc. (NASDAQ:AVT) by 28.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,575 shares of the company’s stock after purchasing an additional 81,446 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Avnet were worth $32,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Avnet during the 2nd quarter valued at $916,146,000. Pzena Investment Management LLC purchased a new position in Avnet during the second quarter worth $277,153,000. Norges Bank bought a new position in Avnet during the fourth quarter valued at $62,393,000. Bank of America Corp DE purchased a new stake in shares of Avnet in the second quarter valued at $91,844,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Avnet in the 2nd quarter worth about $74,897,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insider Buying and Selling at Avnet

In other Avnet news, SVP Michael Ryan Mccoy sold 32,052 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the completion of the sale, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This represents a 29.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 168,923 shares in the company, valued at $16,632,158.58. The trade was a 23.50% 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 Price Performance

Avnet stock opened at $90.82 on Friday. 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 stock has a market cap of $7.45 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. The firm has a 50-day moving average of $89.10 and a two-hundred day moving average of $79.89. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00.

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

Avnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.37 per share. 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 dividend on an annualized basis and a yield of 1.6%. Avnet’s dividend payout ratio is presently 35.09%.

Analyst Ratings Changes

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