Amundi Trims Holdings in Avnet, Inc. (NASDAQ:AVT)

Amundi lessened its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 42.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,179 shares of the company's stock after selling 21,697 shares during the quarter. Amundi's holdings in Avnet were worth $1,511,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVT. Synergy Investment Management LLC purchased a new stake in Avnet during the 4th quarter valued at about $38,000. Principal Securities Inc. boosted its stake in shares of Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Avnet by 18.6% in the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company's stock worth $114,000 after buying an additional 341 shares during the last quarter. KBC Group NV boosted its stake in shares of Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company's stock worth $176,000 after buying an additional 1,200 shares during the last quarter. Finally, Longboard Asset Management LP purchased a new stake in shares of Avnet in the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 95.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVT. Truist Financial lowered their target price on Avnet from $54.00 to $52.00 and set a "hold" rating on the stock in a research note on Thursday, January 30th. Bank of America downgraded Avnet from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

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Avnet Price Performance

NASDAQ AVT traded down $1.16 during trading hours on Friday, reaching $46.99. The company's stock had a trading volume of 7,683,702 shares, compared to its average volume of 653,387. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 1-year low of $46.24 and a 1-year high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The company's 50-day moving average is $50.80 and its two-hundred day moving average is $52.59.

Avnet (NASDAQ:AVT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. On average, equities analysts predict that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%. Avnet's payout ratio is currently 37.39%.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.