Candriam S.C.A. Purchases New Position in Avnet, Inc. $AVT

Candriam S.C.A. acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,432 shares of the company’s stock, valued at approximately $3,046,000. Candriam S.C.A. owned about 0.06% of Avnet at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AVT. Jefferies Financial Group Inc. acquired a new position in Avnet in the fourth quarter valued at approximately $602,000. Jupiter Asset Management Ltd. acquired a new stake in Avnet during the 4th quarter worth $4,865,000. GSA Capital Partners LLP lifted its holdings in shares of Avnet by 255.2% during the 4th quarter. GSA Capital Partners LLP now owns 41,830 shares of the company’s stock valued at $2,011,000 after purchasing an additional 30,052 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Avnet by 22.6% in the third quarter. JPMorgan Chase & Co. now owns 576,725 shares of the company’s stock valued at $30,151,000 after buying an additional 106,160 shares in the last quarter. Finally, LSV Asset Management lifted its position in Avnet by 7.6% in the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after acquiring an additional 197,400 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVT. Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Truist Financial boosted their price target on Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company increased their target price on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Avnet currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Insiders Place Their Bets

In related 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 directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.

Avnet Stock Performance

NASDAQ AVT opened at $86.05 on Wednesday. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 0.27 and a beta of 1.09. The stock has a fifty day simple moving average of $86.67 and a 200 day simple moving average of $70.63. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $95.26.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.15. The business had revenue of $7.12 billion during 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%. Avnet’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts expect that Avnet, Inc. will post 5.12 EPS for the current year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Avnet’s dividend payout ratio is 54.47%.

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.