Russell Investments Group Ltd. purchased a new stake in Avnet, Inc. (NYSE:AVT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 929,402 shares of the company’s stock, valued at approximately $44,585,000. Russell Investments Group Ltd. owned 0.73% of Avnet as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. BKS Advisors LLC acquired a new stake in shares of Avnet during the third quarter worth $102,000. Weaver C. Barksdale & Associates Inc. raised its stake in shares of Avnet by 9.9% in the third quarter. Weaver C. Barksdale & Associates Inc. now owns 3,211 shares of the company’s stock worth $132,000 after buying an additional 290 shares in the last quarter. Invictus RG acquired a new stake in shares of Avnet during the second quarter worth $132,000. US Bancorp DE raised its stake in shares of Avnet by 57.5% in the third quarter. US Bancorp DE now owns 4,211 shares of the company’s stock worth $173,000 after buying an additional 1,537 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Avnet during the third quarter worth $202,000. Institutional investors and hedge funds own 94.20% of the company’s stock.
Shares of Avnet, Inc. (NYSE:AVT) traded up 1.25% on Friday, reaching $46.91. The company’s stock had a trading volume of 520,002 shares. Avnet, Inc. has a one year low of $38.03 and a one year high of $51.50. The firm has a 50-day moving average price of $47.56 and a 200 day moving average price of $43.31. The firm has a market capitalization of $5.99 billion, a PE ratio of 13.90 and a beta of 1.22.
Avnet (NYSE:AVT) last issued its quarterly earnings data on Thursday, January 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Avnet had a return on equity of 11.16% and a net margin of 1.90%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Avnet, Inc. will post $3.23 earnings per share for the current fiscal year.
AVT has been the topic of a number of recent analyst reports. Brean Capital reiterated a “hold” rating on shares of Avnet in a research report on Sunday, October 30th. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a research report on Friday, October 21st. They noted that the move was a valuation call. Zacks Investment Research upgraded Avnet from a “sell” rating to a “hold” rating and set a $48.00 price objective on the stock in a research report on Thursday, October 20th. Finally, Raymond James Financial, Inc. upgraded Avnet from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, October 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Avnet currently has an average rating of “Hold” and an average price target of $43.75.
Avnet Company Profile
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, information technology solutions and services, and embedded subsystems. The Company operates through two segments: Electronics Marketing (EM) and Technology Solutions (TS). The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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