ClearAlpha Technologies LP Purchases 8,998 Shares of Avnet, Inc. (NASDAQ:AVT)

ClearAlpha Technologies LP increased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 81.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 20,012 shares of the company’s stock after purchasing an additional 8,998 shares during the period. ClearAlpha Technologies LP’s holdings in Avnet were worth $1,087,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Avnet by 35.2% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after purchasing an additional 214 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Avnet during the 3rd quarter worth $51,000. nVerses Capital LLC acquired a new stake in Avnet in the 2nd quarter worth about $77,000. GAMMA Investing LLC boosted its stake in shares of Avnet by 68.4% in the second quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock valued at $79,000 after buying an additional 620 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in shares of Avnet by 90.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company’s stock valued at $88,000 after acquiring an additional 814 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Up 0.9 %

NASDAQ AVT opened at $54.71 on Monday. 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 $4.76 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.16. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The business’s fifty day moving average is $54.34 and its 200 day moving average is $53.37.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share (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 business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business earned $1.61 EPS. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts expect that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, December 4th. Avnet’s dividend payout ratio is currently 34.55%.

Analyst Ratings Changes

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

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.