Fmr LLC Increases Holdings in Avnet, Inc. (NASDAQ:AVT)

FMR LLC lifted its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 576,794 shares of the company's stock after purchasing an additional 114,217 shares during the period. FMR LLC owned about 0.66% of Avnet worth $31,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in Avnet by 35.2% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company's stock valued at $42,000 after acquiring an additional 214 shares during the period. Capital Performance Advisors LLP acquired a new position in Avnet in the 3rd quarter valued at about $51,000. nVerses Capital LLC acquired a new position in Avnet in the 2nd quarter valued at about $77,000. GAMMA Investing LLC increased its position in Avnet by 20.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company's stock valued at $100,000 after acquiring an additional 309 shares during the period. Finally, Blue Trust Inc. increased its position in Avnet by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 2,995 shares of the company's stock worth $148,000 after purchasing an additional 836 shares during the period. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Performance

NASDAQ AVT traded up $0.54 on Monday, hitting $54.75. 563,735 shares of the company's stock were exchanged, compared to its average volume of 599,866. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. The firm's 50-day moving average price is $54.50 and its two-hundred day moving average price is $53.41. Avnet, Inc. has a fifty-two week low of $43.62 and a fifty-two week high of $59.24. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The company had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The firm's quarterly revenue was down 11.5% on a year-over-year basis. On average, research analysts expect that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, December 4th. Avnet's dividend payout ratio (DPR) is 34.56%.

Avnet Company 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.