Dimensional Fund Advisors LP Grows Position in Avnet, Inc. (NASDAQ:AVT)

Dimensional Fund Advisors LP raised its position in Avnet, Inc. (NASDAQ:AVT) by 0.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,737,955 shares of the company’s stock after purchasing an additional 17,124 shares during the period. Dimensional Fund Advisors LP’s holdings in Avnet were worth $131,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVT. Alyeska Investment Group L.P. acquired a new position in Avnet in the fourth quarter valued at $10,154,000. Principal Financial Group Inc. grew its holdings in shares of Avnet by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 469,603 shares of the company’s stock worth $16,488,000 after buying an additional 14,696 shares during the last quarter. JPMorgan Chase & Co. increased its position in Avnet by 14.7% in the 4th quarter. JPMorgan Chase & Co. now owns 334,262 shares of the company’s stock valued at $11,736,000 after acquiring an additional 42,841 shares during the period. Truist Financial Corp purchased a new stake in Avnet during the 4th quarter valued at approximately $425,000. Finally, SummerHaven Investment Management LLC acquired a new stake in Avnet during the 4th quarter worth approximately $549,000. Institutional investors own 93.79% of the company’s stock.

Several brokerages recently weighed in on AVT. Raymond James increased their price target on Avnet from $35.00 to $47.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 28th. Loop Capital raised their target price on shares of Avnet from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 29th. Finally, The Goldman Sachs Group increased their price target on shares of Avnet from $23.00 to $25.00 and gave the stock a “sell” rating in a report on Monday, December 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.33.

In other Avnet news, Director William H. Schumann sold 4,535 shares of Avnet stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $38.23, for a total value of $173,373.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Avnet stock opened at $42.98 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 2.39. Avnet, Inc. has a one year low of $24.30 and a one year high of $43.70. The company has a market cap of $4.27 billion, a P/E ratio of -47.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.50. The business has a fifty day moving average of $39.73 and a two-hundred day moving average of $35.30.

Avnet (NASDAQ:AVT) last issued its earnings results on Tuesday, January 26th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.09. Avnet had a negative net margin of 0.52% and a positive return on equity of 3.40%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts predict that Avnet, Inc. will post 1.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 24th. Stockholders of record on Wednesday, March 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Tuesday, March 9th. Avnet’s dividend payout ratio is presently 54.55%.

Avnet Company Profile

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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