Foster & Motley Inc. Makes New $11.26 Million Investment in Avnet, Inc. $AVT

Foster & Motley Inc. acquired a new stake in Avnet, Inc. (NASDAQ:AVT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 126,802 shares of the company’s stock, valued at approximately $11,263,000.

Other hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new position in shares of Avnet during the 4th quarter worth approximately $602,000. Jupiter Asset Management Ltd. bought a new stake in Avnet in the 4th quarter valued at $4,865,000. GSA Capital Partners LLP lifted its holdings in 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 during the last quarter. Edgestream Partners L.P. bought a new position in Avnet during the first quarter worth $2,400,000. Finally, LSV Asset Management boosted its position in Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock worth $135,161,000 after purchasing an additional 197,400 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Down 5.3%

AVT opened at $93.40 on Wednesday. The stock has a fifty day moving average of $89.37 and a 200-day moving average of $77.84. The company has a market capitalization of $7.66 billion, a P/E ratio of 23.41, a P/E/G ratio of 0.32 and a beta of 1.09. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.80 by $0.48. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The business had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the company posted $0.81 earnings per share. Avnet’s revenue was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, equities analysts expect that Avnet, Inc. will post 9.66 EPS for the current year.

Analyst Upgrades and Downgrades

AVT has been the topic of several research analyst reports. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Raymond James Financial reaffirmed 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 upgraded shares of 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 note on Wednesday, May 13th. Wells Fargo & Company increased their price target on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Finally, Truist Financial raised their price objective on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Avnet presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction that occurred 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 owned 168,923 shares in the company, valued at $16,632,158.58. This represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

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.