Avnet, Inc. $AVT Stock Bought by Tectonic Advisors LLC

Tectonic Advisors LLC grew its holdings in Avnet, Inc. (NASDAQ:AVT) by 40.4% during the third quarter, Holdings Channel.com reports. The firm owned 21,565 shares of the company’s stock after acquiring an additional 6,204 shares during the quarter. Tectonic Advisors LLC’s holdings in Avnet were worth $2,155,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Avnet in the second quarter worth $916,146,000. Dimensional Fund Advisors LP boosted its holdings in Avnet by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock worth $362,655,000 after purchasing an additional 22,137 shares during the last quarter. Pzena Investment Management LLC bought a new position in Avnet in the second quarter valued at $277,153,000. Bank of America Corp DE bought a new position in Avnet in the second quarter valued at $91,844,000. Finally, Bank of New York Mellon Corp acquired a new stake in Avnet in the 2nd quarter valued at $74,897,000. Institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AVT shares. Weiss Ratings raised shares of Avnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Wells Fargo & Company raised their price objective on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Truist Financial lifted their target price on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Zacks Research lowered Avnet from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Buying and Selling

In other Avnet news, SVP Michael Ryan Mccoy sold 32,052 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total value of $2,919,937.20. Following the completion of the transaction, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This represents a 29.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Philip R. Gallagher sold 51,900 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the transaction, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at $16,632,158.58. The trade was a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.00% of the company’s stock.

Avnet Stock Performance

NASDAQ AVT traded down $0.56 during trading on Friday, reaching $88.08. The company’s stock had a trading volume of 1,723,283 shares, compared to its average volume of 1,293,013. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.27 and a beta of 1.06. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $108.63. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $94.84 and a 200 day moving average price of $88.37.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Avnet’s revenue for the quarter was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. As a group, equities analysts anticipate that Avnet, Inc. will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th were given a dividend of $0.37 per share. The ex-dividend date was Wednesday, September 9th. This represents a $1.48 annualized dividend and a yield of 1.7%. This is a boost from Avnet’s previous quarterly dividend of $0.35. Avnet’s dividend payout ratio is 37.09%.

Avnet Company Profile

Avnet, Inc is a global technology distributor that helps manufacturers and design engineers source electronic components and develop products. The company supplies semiconductors, embedded processors, memory, connectivity products, sensors, power-management components and other electronic parts used in industrial, automotive, communications, computing, aerospace and defense applications.

In addition to component distribution, Avnet provides engineering and design services, supply-chain management, product customization, logistics, and technical support.