UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Avnet, Inc. $AVT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 28.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 364,575 shares of the company’s stock after purchasing an additional 81,446 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.44% of Avnet worth $32,382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Avnet during the 2nd quarter valued at $916,146,000. Dimensional Fund Advisors LP increased its position in Avnet by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock valued at $362,655,000 after acquiring 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 about $277,153,000. AQR Capital Management LLC boosted its position in Avnet by 30.7% in the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock worth $142,394,000 after purchasing an additional 695,929 shares during the last quarter. Finally, LSV Asset Management boosted its position in Avnet by 7.6% in 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 last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insider Activity

In other news, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the sale, the senior vice president directly owned 76,674 shares of the company’s stock, valued at approximately $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $5,110,074.00. Following the transaction, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at approximately $16,632,158.58. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVT. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Truist Financial increased their price target 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. Wells Fargo & Company boosted their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Avnet Price Performance

NASDAQ:AVT opened at $90.82 on Friday. The stock has a market cap of $7.45 billion, a PE ratio of 22.76, a P/E/G ratio of 0.27 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $89.10 and its two-hundred day simple moving average is $79.89. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00.

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

Avnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, September 9th. This is a positive change from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.6%. Avnet’s dividend payout ratio (DPR) is 35.09%.

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.