Avnet, Inc. $AVT Stock Position Decreased by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,584,513 shares of the company’s stock after selling 24,737 shares during the period. Geode Capital Management LLC’s holdings in Avnet were worth $84,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its stake in Avnet by 109.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 528 shares of the company’s stock valued at $28,000 after buying an additional 276 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Avnet in the 1st quarter valued at approximately $54,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Avnet during the 2nd quarter valued at $59,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Avnet by 877.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,310 shares of the company’s stock valued at $63,000 after purchasing an additional 1,176 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Avnet during the first quarter valued at $90,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Zacks Research raised shares of Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Bank of America upped their price target on shares of Avnet from $48.00 to $50.00 and gave the stock an “underperform” rating in a research note on Monday, August 11th. Finally, Truist Financial lifted their price objective on Avnet from $54.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $49.33.

Avnet Stock Performance

Shares of AVT opened at $45.92 on Friday. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 0.36 and a beta of 1.05. The company’s fifty day moving average is $50.17 and its 200-day moving average is $51.90. The company has a quick ratio of 1.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.58. Avnet, Inc. has a 12 month low of $39.22 and a 12 month high of $57.24.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.73 billion. Avnet had a net margin of 1.04% and a return on equity of 5.91%. Avnet’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. Equities analysts expect that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. Avnet’s dividend payout ratio is currently 52.24%.

About Avnet

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.