Franklin Resources Inc. Cuts Stake in Avnet, Inc. $AVT

Franklin Resources Inc. cut its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 15.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,137 shares of the company’s stock after selling 13,962 shares during the quarter. Franklin Resources Inc. owned about 0.09% of Avnet worth $4,148,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Pzena Investment Management LLC grew its position in Avnet by 2.9% during the 2nd quarter. Pzena Investment Management LLC now owns 7,341,299 shares of the company’s stock valued at $389,676,000 after purchasing an additional 209,003 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Avnet by 10.8% in the first quarter. American Century Companies Inc. now owns 3,880,865 shares of the company’s stock worth $186,631,000 after buying an additional 378,440 shares in the last quarter. LSV Asset Management grew its holdings in shares of Avnet by 2.5% during the second quarter. LSV Asset Management now owns 2,667,923 shares of the company’s stock valued at $141,613,000 after buying an additional 66,191 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Avnet by 5.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,581,227 shares of the company’s stock valued at $124,131,000 after acquiring an additional 134,372 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in Avnet by 3.4% in the 1st quarter. Earnest Partners LLC now owns 1,520,075 shares of the company’s stock worth $73,100,000 after acquiring an additional 50,041 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AVT shares. Truist Financial increased their target price on Avnet from $54.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avnet in a research report on Wednesday, October 8th. Bank of America lifted their price objective on Avnet from $48.00 to $50.00 and gave the stock an “underperform” rating in a report on Monday, August 11th. Finally, Zacks Research upgraded shares of Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Avnet has an average rating of “Reduce” and a consensus target price of $49.33.

Avnet Stock Performance

Shares of AVT opened at $47.38 on Tuesday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 17.68, a PEG ratio of 0.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.36 and a quick ratio of 1.16. Avnet, Inc. has a one year low of $39.22 and a one year high of $57.24. The business has a fifty day moving average of $49.44 and a 200 day moving average of $51.75.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, October 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Avnet had a return on equity of 5.91% and a net margin of 1.04%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. As a group, sell-side analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. Avnet’s dividend payout ratio is currently 52.24%.

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.