12,443 Shares in Avnet, Inc. (NASDAQ:AVT) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,443 shares of the company's stock, valued at approximately $676,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVT. Harbor Capital Advisors Inc. lifted its stake in shares of Avnet by 316.5% in the second quarter. Harbor Capital Advisors Inc. now owns 45,630 shares of the company's stock worth $2,349,000 after acquiring an additional 34,675 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Avnet by 5.0% in the first quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company's stock worth $542,918,000 after acquiring an additional 519,478 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Avnet by 21.2% in the first quarter. Acadian Asset Management LLC now owns 170,937 shares of the company's stock worth $8,474,000 after acquiring an additional 29,884 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Avnet in the first quarter worth about $1,872,000. Finally, TCW Group Inc. lifted its stake in shares of Avnet by 72.5% in the second quarter. TCW Group Inc. now owns 58,611 shares of the company's stock worth $3,018,000 after acquiring an additional 24,636 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AVT shares. Stifel Nicolaus boosted their price objective on Avnet from $50.00 to $55.00 and gave the company a "hold" rating in a report on Friday, August 9th. Truist Financial boosted their price objective on Avnet from $48.00 to $52.00 and gave the company a "hold" rating in a report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price objective on Avnet from $40.00 to $45.00 and gave the company an "underweight" rating in a report on Friday, August 9th.

Avnet Stock Performance

Shares of NASDAQ:AVT traded down $0.20 during trading on Monday, hitting $52.87. 590,795 shares of the company traded hands, compared to its average volume of 601,767. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.99 and a beta of 1.16. The business's fifty day moving average is $53.79 and its 200-day moving average is $53.22. Avnet, Inc. has a one year low of $43.62 and a one year high of $59.24. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business's revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 earnings per share. As a group, equities analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

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.