Thompson Siegel & Walmsley LLC trimmed its holdings in shares of Avnet, Inc. (NYSE:AVT) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711,106 shares of the technology company’s stock after selling 416,164 shares during the period. Avnet comprises approximately 1.3% of Thompson Siegel & Walmsley LLC’s holdings, making the stock its 14th biggest holding. Thompson Siegel & Walmsley LLC owned 2.24% of Avnet worth $106,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AVT. Capstone Asset Management Co. boosted its position in Avnet by 5.0% during the second quarter. Capstone Asset Management Co. now owns 18,216 shares of the technology company’s stock worth $708,000 after acquiring an additional 866 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Avnet by 524.8% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 20,820 shares of the technology company’s stock worth $809,000 after acquiring an additional 17,488 shares during the last quarter. LS Investment Advisors LLC boosted its position in Avnet by 10.0% during the second quarter. LS Investment Advisors LLC now owns 14,144 shares of the technology company’s stock worth $550,000 after acquiring an additional 1,290 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Avnet by 0.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the technology company’s stock worth $1,267,000 after acquiring an additional 100 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Avnet during the second quarter worth approximately $1,477,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Shares of Avnet, Inc. (NYSE AVT) traded up $0.14 on Monday, hitting $39.60. 1,186,600 shares of the company’s stock were exchanged, compared to its average volume of 1,119,530. The firm has a market cap of $4,788.73, a price-to-earnings ratio of 12.19, a PEG ratio of 1.30 and a beta of 1.08. Avnet, Inc. has a 52 week low of $35.67 and a 52 week high of $51.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 2.78.

Avnet (NYSE:AVT) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.34 billion. Avnet had a net margin of 2.86% and a return on equity of 8.20%. Avnet’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. equities research analysts anticipate that Avnet, Inc. will post 3.36 EPS for the current year.

Avnet declared that its Board of Directors has approved a share buyback plan on Friday, November 10th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, December 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. Avnet’s dividend payout ratio (DPR) is presently 17.96%.

A number of brokerages recently issued reports on AVT. TheStreet upgraded shares of Avnet from a “c” rating to a “b-” rating in a research report on Friday, November 10th. Cross Research upgraded shares of Avnet from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Citigroup Inc. raised their target price on shares of Avnet from $31.00 to $34.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Stifel Nicolaus raised their target price on shares of Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Avnet from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $40.29.

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Avnet Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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