Brandes Investment Partners LP Increases Position in Avnet, Inc. $AVT

Brandes Investment Partners LP lifted its position in Avnet, Inc. (NASDAQ:AVT) by 27.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,857 shares of the company’s stock after purchasing an additional 7,011 shares during the period. Brandes Investment Partners LP’s holdings in Avnet were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Avnet during the fourth quarter valued at $62,393,000. AQR Capital Management LLC lifted its position in Avnet by 34.8% during the third quarter. AQR Capital Management LLC now owns 2,265,679 shares of the company’s stock valued at $117,974,000 after purchasing an additional 585,141 shares during the last quarter. Vanguard Group Inc. lifted its position in Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after purchasing an additional 214,290 shares during the last quarter. LSV Asset Management lifted its position in Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after purchasing an additional 197,400 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Avnet by 86.9% during the third quarter. Millennium Management LLC now owns 373,422 shares of the company’s stock valued at $19,523,000 after purchasing an additional 173,579 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Trading Down 1.8%

Shares of AVT opened at $85.39 on Thursday. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $95.26. The company has a 50-day moving average of $79.03 and a 200 day moving average of $64.05. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 0.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. The business had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, research analysts expect that Avnet, Inc. will post 5.12 EPS for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. Avnet’s dividend payout ratio (DPR) is 54.47%.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the transaction, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

AVT has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Avnet from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Truist Financial raised their target price on shares of Avnet to $95.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.00.

About Avnet

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.