Azarias Capital Management L.P. Buys Shares of 43,934 Avnet, Inc. $AVT

Azarias Capital Management L.P. purchased a new position in Avnet, Inc. (NASDAQ:AVT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 43,934 shares of the company’s stock, valued at approximately $2,707,000. Avnet accounts for approximately 1.2% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Avnet during the fourth quarter worth $62,393,000. AQR Capital Management LLC boosted its position in Avnet by 30.7% during the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock valued at $142,394,000 after acquiring an additional 695,929 shares during the last quarter. Jain Global LLC acquired a new stake in Avnet during the 4th quarter worth about $18,873,000. Loews Corp grew its holdings in Avnet by 258.3% during the 4th quarter. Loews Corp now owns 430,000 shares of the company’s stock worth $20,674,000 after acquiring an additional 310,000 shares during the period. Finally, Millennium Management LLC grew its holdings in Avnet by 75.3% during the 4th quarter. Millennium Management LLC now owns 654,695 shares of the company’s stock worth $31,478,000 after acquiring an additional 281,273 shares during the period. 95.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVT. Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research note on Thursday, April 30th. Truist Financial lifted their target price on Avnet to $95.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Two equities research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $91.47 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $82.94 and its two-hundred day simple moving average is $66.20. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $95.26. The stock has a market cap of $7.50 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.15. The firm 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%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, analysts forecast that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s dividend payout ratio is presently 54.47%.

Insider Transactions at Avnet

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

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.