Quantbot Technologies LP Buys New Stake in Avnet, Inc. $AVT

Quantbot Technologies LP bought a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, HoldingsChannel reports. The fund bought 27,890 shares of the company’s stock, valued at approximately $2,477,000.

Several other hedge funds also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Avnet in the second quarter worth $25,000. State of Wyoming acquired a new stake in shares of Avnet during the second quarter valued at $37,000. Summit Securities Group LLC purchased a new stake in Avnet during the 4th quarter worth about $28,000. BOKF NA increased its position in Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after purchasing an additional 536 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its position in Avnet by 38.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock worth $59,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVT. Truist Financial upped their target price on shares of Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Finally, Wells Fargo & Company upped their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

In other news, CEO Philip R. Gallagher sold 51,900 shares of Avnet stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the transaction, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at $16,632,158.58. The trade was a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the transaction, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

Key Avnet News

Here are the key news stories impacting Avnet this week:

• Positive Sentiment: Broad-based earnings estimate increases: Zacks Research raised its EPS forecasts across multiple periods, including Q1 2027 to $2.85 from $1.53, Q2 2027 to $2.16 from $1.74, Q3 2027 to $1.96 from $1.55, and FY2027 to $9.00 from $6.65. The firm also lifted FY2028 estimates to $9.79 from $7.19 and projects FY2029 EPS of $10.15. Zacks maintains a “Strong-Buy” rating. Zacks Research earnings estimates
• Positive Sentiment: Higher forward-quarter expectations: The firm increased its Q1 2028 forecast to $3.14 from $1.85, Q2 2028 to $2.35 from $1.89, Q3 2028 to $2.06 from $1.66, and Q4 2028 to $2.23 from $1.79. These revisions point to stronger anticipated earnings momentum than previously expected. Avnet forward earnings revisions
• Positive Sentiment: Dividend increase: Avnet declared a quarterly dividend of $0.37 per share, up from $0.35, representing a 5.7% increase. The dividend is payable September 23 to shareholders of record September 9, with an indicated annual yield of approximately 1.7%. Avnet increases quarterly dividend
• Neutral Sentiment: Valuation remains a focus: Zacks is examining whether Avnet is undervalued based on value, growth, momentum, and earnings-estimate trends. The discussion could attract value-oriented investors, although the article details provided do not include a specific valuation conclusion. Are Investors Undervaluing Avnet

Avnet Stock Performance

Avnet stock opened at $88.64 on Monday. The stock has a fifty day moving average price of $89.35 and a 200 day moving average price of $78.37. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00. The firm has a market capitalization of $7.27 billion, a P/E ratio of 22.22, a PEG ratio of 0.27 and a beta of 1.09. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.48. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities research analysts anticipate that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 9th. This is an increase from Avnet’s previous quarterly dividend of $0.35. Avnet’s payout ratio is currently 35.09%.

About Avnet

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.