Signaturefd LLC Decreases Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Signaturefd LLC decreased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,786 shares of the company’s stock after selling 1,534 shares during the quarter. Signaturefd LLC’s holdings in Avnet were worth $93,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Avnet by 11,848.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after acquiring an additional 2,816,889 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Avnet in the fourth quarter valued at approximately $32,676,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after purchasing an additional 463,660 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Avnet by 227.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock worth $11,197,000 after buying an additional 148,588 shares in the last quarter. Finally, FMR LLC boosted its stake in Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after buying an additional 114,217 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AVT shares. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial reduced their target price on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th.

Avnet Stock Performance

Shares of Avnet stock opened at $46.99 on Monday. The firm has a market cap of $4.06 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 52 week low of $46.24 and a 52 week high of $59.24. The business’s fifty day simple moving average is $50.80 and its 200-day simple moving average is $52.59.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Equities analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%. Avnet’s payout ratio is currently 37.39%.

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.