LMR Partners LLP Purchases Shares of 38,933 Avnet (AVT)

LMR Partners LLP purchased a new stake in Avnet (NYSE:AVT) during the fourth quarter, HoldingsChannel reports. The firm purchased 38,933 shares of the technology company’s stock, valued at approximately $1,405,000.

A number of other large investors also recently made changes to their positions in the business. Pearl River Capital LLC bought a new stake in shares of Avnet during the fourth quarter worth $61,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Avnet during the fourth quarter worth $108,000. Northstar Wealth Partners LLC bought a new stake in shares of Avnet during the third quarter worth $200,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Avnet during the third quarter worth $206,000. Finally, Fosun International Ltd bought a new stake in shares of Avnet during the third quarter worth $223,000. Hedge funds and other institutional investors own 96.44% of the company’s stock.

Shares of AVT opened at $43.50 on Friday. Avnet has a 12-month low of $33.55 and a 12-month high of $49.40.

Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, January 24th. The technology company reported $1.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.04. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company earned $0.78 EPS. The company’s revenue was up 11.7% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, March 11th.

Separately, Zacks Investment Research cut Avnet from a “hold” rating to a “sell” rating in a report on Monday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $45.17.

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Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

Further Reading: What is Call Option Volume?

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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