XTX Topco Ltd Invests $633,000 in Avnet, Inc. (NASDAQ:AVT)

XTX Topco Ltd acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,290 shares of the company’s stock, valued at approximately $633,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Avnet by 53.0% in the fourth quarter. BNP Paribas Financial Markets now owns 18,025 shares of the company’s stock valued at $908,000 after acquiring an additional 6,241 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Avnet by 14.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 11,247 shares of the company’s stock valued at $567,000 after purchasing an additional 1,409 shares in the last quarter. Norges Bank acquired a new stake in shares of Avnet during the 4th quarter worth about $51,065,000. Corient Private Wealth LLC grew its holdings in shares of Avnet by 26.7% during the fourth quarter. Corient Private Wealth LLC now owns 36,960 shares of the company’s stock worth $1,863,000 after buying an additional 7,799 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Avnet by 26.1% in the fourth quarter. Franklin Resources Inc. now owns 62,604 shares of the company’s stock valued at $3,155,000 after buying an additional 12,962 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

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

Avnet Trading Up 0.1 %

NASDAQ AVT opened at $52.84 on Tuesday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 8.55 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 2.32. Avnet, Inc. has a one year low of $42.67 and a one year high of $55.80. The company’s 50 day moving average price is $52.77 and its 200 day moving average price is $51.44.

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

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Avnet’s previous quarterly dividend of $0.31. Avnet’s dividend payout ratio (DPR) is 21.36%.

Avnet 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.