Commerce Bank Invests $609,000 in Avnet, Inc. $AVT

Commerce Bank purchased a new position in Avnet, Inc. (NASDAQ:AVT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,855 shares of the company’s stock, valued at approximately $609,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in Avnet by 1.9% during the 1st quarter. Empowered Funds LLC now owns 6,833 shares of the company’s stock valued at $421,000 after acquiring an additional 129 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Avnet by 0.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company’s stock worth $1,264,000 after acquiring an additional 159 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Avnet by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock worth $671,000 after purchasing an additional 176 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Avnet by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock worth $422,000 after purchasing an additional 184 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in shares of Avnet by 38.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after purchasing an additional 185 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Avnet

In other news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the transaction, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the sale, the senior vice president owned 76,674 shares in the company, valued at $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Avnet Trading Up 1.4%

Avnet stock opened at $91.51 on Friday. The firm’s 50-day moving average is $89.19 and its 200-day moving average is $79.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00. The company has a market cap of $7.51 billion, a P/E ratio of 22.93, a PEG ratio of 0.28 and a beta of 1.09.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, equities analysts expect that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, September 9th. This is an increase from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 1.6%. Avnet’s payout ratio is presently 35.09%.

Analysts Set New Price Targets

AVT has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 14th. Finally, Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Avnet Company Profile

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.