Louisiana State Employees Retirement System Purchases New Position in Avnet, Inc. $AVT

Louisiana State Employees Retirement System purchased a new position in Avnet, Inc. (NASDAQ:AVT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,700 shares of the company’s stock, valued at approximately $1,460,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in shares of Avnet during the 4th quarter worth approximately $28,000. BOKF NA raised its position in shares of Avnet by 1,116.7% in the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after acquiring an additional 536 shares in the last quarter. MAI Capital Management lifted its stake in shares of Avnet by 53.7% in the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Avnet by 53.9% during 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 boosted its position in shares of Avnet by 199.1% during 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was 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 in the company, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AVT shares. Zacks Research cut Avnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price objective on shares of Avnet in a research report on Thursday, April 30th. Truist Financial boosted their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Avnet in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.00.

Avnet Stock Performance

Shares of AVT opened at $82.18 on Friday. 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 stock has a market cap of $6.74 billion, a P/E ratio of 31.98, a P/E/G ratio of 0.28 and a beta of 1.09. The business’s 50 day moving average price is $85.90 and its 200-day moving average price is $68.65. 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 7.07% and a net margin of 0.86%.The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities research analysts anticipate that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.7%. Avnet’s dividend payout ratio (DPR) is presently 54.47%.

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.