Allianz Asset Management GmbH Sells 81,518 Shares of Avnet, Inc. $AVT

Allianz Asset Management GmbH lessened its stake in Avnet, Inc. (NASDAQ:AVT) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 593,999 shares of the company’s stock after selling 81,518 shares during the quarter. Allianz Asset Management GmbH’s holdings in Avnet were worth $31,054,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Seizert Capital Partners LLC bought a new stake in shares of Avnet in the second quarter worth approximately $1,729,000. Arkadios Wealth Advisors bought a new stake in Avnet in the 2nd quarter worth approximately $363,000. JPMorgan Chase & Co. raised its stake in Avnet by 6.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 470,565 shares of the company’s stock valued at $24,978,000 after buying an additional 28,467 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Avnet by 6.2% during the 2nd quarter. Legal & General Group Plc now owns 228,866 shares of the company’s stock valued at $12,148,000 after buying an additional 13,422 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Avnet by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,101,103 shares of the company’s stock worth $58,447,000 after buying an additional 36,549 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVT shares. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 30th. Truist Financial boosted their price target on Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, January 29th. Zacks Research upgraded shares of Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a report on Thursday, January 29th. Finally, Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $54.33.

Avnet Stock Up 0.5%

AVT stock opened at $64.29 on Friday. The business’s 50-day moving average price is $51.41 and its 200-day moving average price is $51.46. The stock has a market cap of $5.26 billion, a P/E ratio of 26.35, a PEG ratio of 0.48 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $64.79.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the business earned $0.87 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. On average, equities research analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Avnet’s payout ratio is 57.38%.

Avnet Company Profile

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.