Fox Run Management L.L.C. Buys 7,521 Shares of Avnet, Inc. $AVT

Fox Run Management L.L.C. lifted its holdings in Avnet, Inc. (NASDAQ:AVT) by 77.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,257 shares of the company’s stock after purchasing an additional 7,521 shares during the quarter. Fox Run Management L.L.C.’s holdings in Avnet were worth $830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVT. Hantz Financial Services Inc. grew its holdings in shares of Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. BOKF NA grew its holdings in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. MAI Capital Management grew its holdings in shares of Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Avnet by 53.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVT. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Truist Financial raised their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wells Fargo & Company raised their target price on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and raised their target price for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Avnet currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Avnet Stock Down 1.8%

NASDAQ AVT opened at $85.39 on Thursday. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $79.03 and a two-hundred 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. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $95.26.

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

Avnet Dividend Announcement

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

Avnet 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.