Avnet, Inc. (NASDAQ:AVT) Holdings Trimmed by Sei Investments Co.

Sei Investments Co. cut its holdings in Avnet, Inc. (NASDAQ:AVT) by 7.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 573,350 shares of the company’s stock after selling 46,110 shares during the quarter. Sei Investments Co.’s holdings in Avnet were worth $29,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Synergy Investment Management LLC acquired a new stake in Avnet during the fourth quarter valued at approximately $38,000. Principal Securities Inc. increased its holdings in shares of Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Avnet by 1,768.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock valued at $113,000 after acquiring an additional 2,051 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after acquiring an additional 341 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock worth $176,000 after acquiring an additional 1,200 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AVT shares. Truist Financial reduced 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 cut 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 report on Thursday, January 30th.

Avnet Stock Performance

Shares of Avnet stock opened at $48.80 on Wednesday. The stock has a market cap of $4.22 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 12 month low of $46.24 and a 12 month high of $59.24. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $50.69 and a 200-day simple moving average of $52.56.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data 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 return on equity of 7.49% and a net margin of 1.41%. On average, sell-side analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.70%. Avnet’s dividend payout ratio is presently 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.