Wedge Capital Management L L P NC Boosts Stake in Avnet, Inc. $AVT

Wedge Capital Management L L P NC raised its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 10.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 87,259 shares of the company’s stock after buying an additional 8,493 shares during the period. Wedge Capital Management L L P NC’s holdings in Avnet were worth $4,195,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AVT. Global X Japan Co. Ltd. boosted its stake in shares of Avnet by 67.0% during the fourth quarter. Global X Japan Co. Ltd. now owns 1,653 shares of the company’s stock valued at $79,000 after acquiring an additional 663 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Avnet by 3,843.8% in the 4th quarter. SG Americas Securities LLC now owns 109,520 shares of the company’s stock worth $5,266,000 after buying an additional 106,743 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Avnet by 15.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 64,623 shares of the company’s stock valued at $3,107,000 after acquiring an additional 8,497 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Avnet by 10.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,916 shares of the company’s stock valued at $1,332,000 after acquiring an additional 2,490 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in Avnet by 9.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 15,494 shares of the company’s stock valued at $757,000 after acquiring an additional 1,332 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial raised their price objective on Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. Weiss Ratings downgraded shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Wells Fargo & Company boosted their price objective on shares of Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $54.33.

Avnet Stock Performance

Shares of NASDAQ AVT opened at $59.73 on Monday. The stock’s fifty day simple moving average is $61.54 and its 200 day simple moving average is $53.91. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 0.44 and a beta of 0.91. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $68.29.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Avnet had a return on equity of 6.08% and a net margin of 0.90%.Avnet’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, sell-side analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. Avnet’s dividend payout ratio (DPR) is 57.38%.

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.