Trexquant Investment LP Has $1.17 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Trexquant Investment LP decreased its stake in Avnet, Inc. (NASDAQ:AVT) by 90.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,406 shares of the company’s stock after selling 214,203 shares during the period. Trexquant Investment LP’s holdings in Avnet were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in shares of Avnet by 227.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after buying an additional 148,588 shares during the period. JPMorgan Chase & Co. increased its holdings in Avnet by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after purchasing an additional 28,453 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Avnet by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock worth $312,000 after purchasing an additional 1,101 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Avnet by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 54,221 shares of the company’s stock worth $2,837,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Barclays PLC increased its holdings in Avnet by 87.6% in the third quarter. Barclays PLC now owns 91,842 shares of the company’s stock worth $4,988,000 after purchasing an additional 42,880 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lowered their target price on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Trading Down 3.6 %

Shares of Avnet stock opened at $44.74 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $59.24. The stock has a 50 day moving average price of $48.60 and a two-hundred day moving average price of $51.98. The stock has a market capitalization of $3.87 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

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

Avnet Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.95%. Avnet’s payout ratio is 37.39%.

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.