Atala Financial Inc Takes Position in Avnet, Inc. (NASDAQ:AVT)

Atala Financial Inc bought a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,384 shares of the company's stock, valued at approximately $282,000.

Several other institutional investors have also added to or reduced their stakes in AVT. Pacer Advisors Inc. lifted its stake in Avnet by 11,848.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company's stock valued at $148,623,000 after purchasing an additional 2,816,889 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Avnet in the 4th quarter valued at $32,676,000. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Avnet by 204.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company's stock valued at $37,489,000 after acquiring an additional 463,660 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Avnet by 227.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company's stock valued at $11,197,000 after acquiring an additional 148,588 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company's stock valued at $31,326,000 after acquiring an additional 114,217 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial lowered their price objective on Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a research note on Thursday, January 30th. Bank of America cut shares of Avnet from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $58.00 to $48.00 in a research report on Thursday, January 30th.

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Avnet Stock Up 0.8 %

Shares of NASDAQ:AVT traded up $0.37 during trading on Tuesday, reaching $48.60. 638,703 shares of the stock were exchanged, compared to its average volume of 625,501. Avnet, Inc. has a 1-year low of $45.50 and a 1-year high of $59.24. The stock has a fifty day moving average of $51.09 and a two-hundred day moving average of $52.74. 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 firm has a market cap of $4.20 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share (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%. Research analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, March 5th. Avnet's dividend payout ratio (DPR) is presently 37.39%.

Avnet Profile

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.