Avnet (NASDAQ:AVT) Reaches New 52-Week Low – Should You Sell?

Avnet, Inc. (NASDAQ:AVT) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $44.88 and last traded at $45.13, with a volume of 349419 shares changing hands. The stock had previously closed at $48.29.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial decreased their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, January 30th.

Avnet Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The stock’s fifty day simple moving average is $50.01 and its two-hundred day simple moving average is $52.45.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share 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 research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is 37.39%.

Institutional Trading of Avnet

Hedge funds have recently made changes to their positions in the stock. GeoWealth Management LLC bought a new position in shares of Avnet during the fourth quarter worth about $31,000. Synergy Investment Management LLC acquired a new position in shares of Avnet during the fourth quarter worth approximately $38,000. Natixis grew its holdings in Avnet by 1,463.8% in the 4th quarter. Natixis now owns 735 shares of the company’s stock worth $38,000 after buying an additional 688 shares in the last quarter. Bessemer Group Inc. increased its position in Avnet by 621.8% in the 4th quarter. Bessemer Group Inc. now owns 960 shares of the company’s stock valued at $50,000 after acquiring an additional 827 shares during the period. Finally, Principal Securities Inc. raised its stake in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after acquiring an additional 211 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Company 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.