Avnet, Inc. (NYSE:AVT) CEO Amelio J. William acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average price of $39.16 per share, for a total transaction of $117,480.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avnet, Inc. (NYSE:AVT) traded up $0.39 during mid-day trading on Tuesday, hitting $39.53. 553,100 shares of the company’s stock were exchanged, compared to its average volume of 1,101,295. Avnet, Inc. has a one year low of $35.67 and a one year high of $51.50. The company has a market cap of $4,733.10, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.78 and a quick ratio of 1.63.

Avnet (NYSE:AVT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the firm earned $0.91 EPS. Avnet’s revenue was up 13.2% on a year-over-year basis. sell-side analysts anticipate that Avnet, Inc. will post 3.36 EPS for the current year.

Avnet announced that its board has approved a share repurchase program on Friday, November 10th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. Avnet’s dividend payout ratio (DPR) is 17.96%.

Several hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its holdings in shares of Avnet by 39.1% in the 2nd quarter. Pzena Investment Management LLC now owns 7,583,434 shares of the technology company’s stock worth $294,844,000 after purchasing an additional 2,133,389 shares in the last quarter. FMR LLC raised its holdings in shares of Avnet by 102.0% in the 2nd quarter. FMR LLC now owns 3,806,767 shares of the technology company’s stock worth $148,007,000 after purchasing an additional 1,922,592 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Avnet by 160.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,216,205 shares of the technology company’s stock worth $86,166,000 after purchasing an additional 1,363,770 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Avnet in the 3rd quarter worth approximately $45,908,000. Finally, Prudential PLC raised its holdings in shares of Avnet by 33.2% in the 2nd quarter. Prudential PLC now owns 4,557,200 shares of the technology company’s stock worth $177,184,000 after purchasing an additional 1,134,700 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

AVT has been the topic of several recent research reports. TheStreet upgraded shares of Avnet from a “c” rating to a “b-” rating in a research report on Friday, November 10th. ValuEngine upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Avnet from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, October 10th. Stifel Nicolaus lifted their price objective on shares of Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Cross Research upgraded shares of Avnet from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.29.

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About Avnet

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

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