Avnet, Inc. $AVT Position Raised by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its position in shares of Avnet, Inc. (NASDAQ:AVT) by 316.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,527 shares of the company’s stock after acquiring an additional 25,474 shares during the quarter. Meeder Asset Management Inc.’s holdings in Avnet were worth $2,066,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake in Avnet by 3.0% during the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after purchasing an additional 2,101 shares during the period. Goldman Sachs Group Inc. grew its position in Avnet by 16.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after purchasing an additional 31,919 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Avnet in the first quarter valued at approximately $267,000. Empowered Funds LLC increased its stake in shares of Avnet by 9.3% in the first quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock valued at $392,000 after purchasing an additional 696 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Avnet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock valued at $17,012,000 after buying an additional 16,443 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AVT shares. Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Truist Financial raised their target price on Avnet to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research downgraded Avnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research note on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price target on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Avnet has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Insider Activity at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Avnet Trading Down 0.7%

Shares of AVT stock opened at $85.02 on Tuesday. The stock has a 50-day simple moving average of $86.91 and a 200 day simple moving average of $71.65. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $95.26. The stock has a market capitalization of $6.97 billion, a P/E ratio of 33.08, a P/E/G ratio of 0.27 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The firm had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the previous year, the business earned $0.84 earnings per share. Avnet’s revenue for the quarter was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, sell-side analysts expect that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Avnet’s payout ratio is currently 54.47%.

About Avnet

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.