Avnet, Inc. (NASDAQ:AVT) Stock Position Increased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its position in Avnet, Inc. (NASDAQ:AVT) by 16.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,670 shares of the company’s stock after purchasing an additional 2,851 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Avnet were worth $1,062,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Avnet during the first quarter valued at $29,000. Fifth Third Bancorp grew its position in Avnet by 35.2% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Avnet by 1,113.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 898 shares of the company’s stock valued at $45,000 after buying an additional 824 shares during the period. nVerses Capital LLC bought a new stake in shares of Avnet during the 2nd quarter worth about $77,000. Finally, Versant Capital Management Inc lifted its stake in shares of Avnet by 729.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock worth $79,000 after acquiring an additional 1,350 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price objective on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Avnet currently has an average rating of “Hold” and a consensus price target of $48.50.

Avnet Stock Up 0.1 %

Shares of Avnet stock opened at $52.84 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 2.32 and a debt-to-equity ratio of 0.49. Avnet, Inc. has a 12-month low of $42.67 and a 12-month high of $55.80. The firm has a market capitalization of $4.78 billion, a PE ratio of 8.55 and a beta of 1.15. The stock’s fifty day moving average is $52.77 and its 200-day moving average is $51.44.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.27. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.37 billion. Avnet had a net margin of 2.10% and a return on equity of 9.92%. The business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 earnings per share. Equities analysts anticipate that Avnet, Inc. will post 4.57 earnings per share for the current year.

Avnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.33 per share. This is an increase from Avnet’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 11th. Avnet’s payout ratio is 21.36%.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.