Nations Financial Group Inc. IA ADV Raises Stake in Avnet, Inc. (NASDAQ:AVT)

Nations Financial Group Inc. IA ADV increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 6.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,656 shares of the company’s stock after buying an additional 487 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Avnet were worth $470,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Avnet by 3.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,850 shares of the company’s stock valued at $340,000 after acquiring an additional 243 shares during the period. US Bancorp DE increased its position in Avnet by 1.9% in the first quarter. US Bancorp DE now owns 13,124 shares of the company’s stock worth $651,000 after buying an additional 243 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Avnet by 15.9% in the first quarter. ProShare Advisors LLC now owns 163,373 shares of the company’s stock valued at $8,100,000 after buying an additional 22,437 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Avnet by 1.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 116,061 shares of the company’s stock valued at $5,246,000 after buying an additional 1,687 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Avnet by 9.8% during the 1st quarter. First Eagle Investment Management LLC now owns 210,113 shares of the company’s stock worth $10,417,000 after acquiring an additional 18,700 shares during the period. Institutional investors own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

AVT has been the topic of a number of research reports. Wells Fargo & Company upped their price objective on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Truist Financial upped their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, August 9th.

Avnet Stock Down 1.8 %

Shares of NASDAQ AVT opened at $53.04 on Thursday. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. The company has a market cap of $4.61 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.99 and a beta of 1.16. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The business has a 50-day simple moving average of $53.66 and a two-hundred day simple moving average of $53.10.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business earned $1.61 earnings per share. Avnet’s revenue was down 11.5% compared to the same quarter last year. Research analysts anticipate that Avnet, Inc. will post 4.14 earnings per share for the current fiscal year.

Avnet Profile

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.