ProShare Advisors LLC Grows Position in Avnet, Inc. $AVT

ProShare Advisors LLC raised its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,899 shares of the company’s stock after purchasing an additional 10,567 shares during the quarter. ProShare Advisors LLC’s holdings in Avnet were worth $6,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Avnet by 132.7% during the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. BOKF NA lifted its holdings in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. MAI Capital Management lifted its holdings in Avnet by 53.7% during the third 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 last quarter. Allworth Financial LP lifted its holdings in 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in 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 during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVT has been the topic of several analyst reports. Truist Financial upped their price target on Avnet to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and upped their price target for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wall Street Zen cut Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company upped their price target on Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Avnet has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Avnet Stock Up 3.0%

AVT stock opened at $85.91 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $71.79 and its 200 day moving average is $60.17. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 0.38 and a beta of 1.09. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $87.46.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. Avnet’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts predict that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.40 annualized dividend and a yield of 1.6%. Avnet’s dividend payout ratio is currently 54.47%.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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.