Wedge Capital Management L L P NC Has $4.12 Million Stake in Avnet, Inc. $AVT

Wedge Capital Management L L P NC boosted its position in shares of Avnet, Inc. (NASDAQ:AVT) by 25.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,766 shares of the company’s stock after acquiring an additional 16,215 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of Avnet worth $4,118,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Seizert Capital Partners LLC bought a new position in shares of Avnet during the second quarter worth approximately $1,729,000. Arkadios Wealth Advisors acquired a new stake in shares of Avnet during the second quarter worth $363,000. Bank of New York Mellon Corp boosted its position in shares of Avnet by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,101,103 shares of the company’s stock valued at $58,447,000 after acquiring an additional 36,549 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Avnet by 6.4% in the second quarter. JPMorgan Chase & Co. now owns 470,565 shares of the company’s stock valued at $24,978,000 after acquiring an additional 28,467 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Avnet by 6.2% during the second quarter. Legal & General Group Plc now owns 228,866 shares of the company’s stock worth $12,148,000 after acquiring an additional 13,422 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Zacks Research upgraded Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Truist Financial upped their target price on Avnet from $54.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $49.33.

Avnet Trading Down 0.7%

Shares of AVT opened at $49.40 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 2.36. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $57.24. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 0.39 and a beta of 0.95. The business’s fifty day moving average is $48.73 and its 200-day moving average is $51.63.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, October 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Avnet had a return on equity of 5.91% and a net margin of 1.04%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. Equities analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.40 annualized dividend and a yield of 2.8%. Avnet’s dividend payout ratio is presently 52.24%.

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.