Hotchkis & Wiley Capital Management LLC Has $37.49 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Hotchkis & Wiley Capital Management LLC lifted its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 204.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,270 shares of the company's stock after acquiring an additional 463,660 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.79% of Avnet worth $37,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its position in Avnet by 35.2% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company's stock worth $42,000 after acquiring an additional 214 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Avnet in the third quarter worth $51,000. nVerses Capital LLC purchased a new stake in shares of Avnet in the second quarter valued at $77,000. GAMMA Investing LLC increased its position in Avnet by 68.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the company's stock worth $79,000 after purchasing an additional 620 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in Avnet by 90.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company's stock valued at $88,000 after purchasing an additional 814 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Down 0.3 %

Shares of Avnet stock traded down $0.14 during trading on Tuesday, reaching $55.66. The company had a trading volume of 672,533 shares, compared to its average volume of 570,651. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a fifty-two week low of $43.62 and a fifty-two week high of $59.24. The firm's fifty day moving average is $54.40 and its 200-day moving average is $53.39. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.04 and a beta of 1.14.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same period last year, the business posted $1.61 earnings per share. The firm's revenue for the quarter was down 11.5% on a year-over-year basis. On average, analysts anticipate that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, December 4th. Avnet's dividend payout ratio (DPR) is 34.56%.

Analyst Upgrades and Downgrades

AVT has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Avnet from $40.00 to $45.00 and gave the company an "underweight" rating in a research note on Friday, August 9th. Stifel Nicolaus raised their target price on shares of Avnet from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Finally, Truist Financial increased their price target on shares of Avnet from $48.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday, August 9th.

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.