Avnet, Inc. (NASDAQ:AVT) Shares Sold by LSV Asset Management

LSV Asset Management reduced its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,627,632 shares of the company's stock after selling 74,352 shares during the period. LSV Asset Management owned approximately 3.04% of Avnet worth $137,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Synergy Investment Management LLC acquired a new stake in Avnet during the fourth quarter worth approximately $38,000. Bessemer Group Inc. boosted its holdings in shares of Avnet by 621.8% in the 4th quarter. Bessemer Group Inc. now owns 960 shares of the company's stock worth $50,000 after buying an additional 827 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after purchasing an additional 211 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Avnet by 30.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company's stock valued at $76,000 after buying an additional 340 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Avnet by 1,768.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company's stock valued at $113,000 after acquiring an additional 2,051 shares during the period. 95.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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Avnet Stock Performance

Shares of Avnet stock traded up $0.09 on Wednesday, hitting $46.53. 121,820 shares of the company's stock were exchanged, compared to its average volume of 722,710. Avnet, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24. The stock has a market capitalization of $4.03 billion, a PE ratio of 13.18, a PEG ratio of 1.13 and a beta of 1.04. The company has a 50-day simple moving average of $48.35 and a 200-day simple moving average of $51.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39.

Avnet (NASDAQ:AVT - Get Free Report) last posted 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%. As a group, equities analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The business also recently disclosed 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. This represents a $1.32 annualized dividend and a yield of 2.84%. The ex-dividend date was Wednesday, March 5th. Avnet's payout ratio is 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.