Y Intercept Hong Kong Ltd Takes Position in Avnet, Inc. (NASDAQ:AVT)

Y Intercept Hong Kong Ltd bought a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,798 shares of the company's stock, valued at approximately $1,021,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC raised its stake in shares of Avnet by 430.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 24,208 shares of the company's stock valued at $1,289,000 after acquiring an additional 19,646 shares during the last quarter. Weiss Asset Management LP grew its position in Avnet by 35.7% during the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company's stock valued at $13,829,000 after purchasing an additional 66,973 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Avnet by 20.2% in the third quarter. Quantinno Capital Management LP now owns 96,218 shares of the company's stock worth $5,226,000 after purchasing an additional 16,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company's stock worth $37,489,000 after purchasing an additional 463,660 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in Avnet by 14.9% during the third quarter. Hilltop Holdings Inc. now owns 4,688 shares of the company's stock valued at $255,000 after buying an additional 607 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Avnet Price Performance

Shares of Avnet stock traded down $0.23 during trading hours on Friday, hitting $54.16. The company's stock had a trading volume of 962,244 shares, compared to its average volume of 602,017. 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 12-month low of $43.62 and a 12-month high of $59.24. The business has a 50 day moving average price of $54.56 and a two-hundred day moving average price of $53.42. The company has a market cap of $4.71 billion, a PE ratio of 14.24, a PEG ratio of 1.01 and a beta of 1.14.

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

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, December 4th. Avnet's dividend payout ratio (DPR) is presently 34.56%.

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.