First Trust Advisors LP Trims Stock Position in Avnet, Inc. $AVT

First Trust Advisors LP lessened its stake in Avnet, Inc. (NASDAQ:AVT) by 19.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 678,730 shares of the company’s stock after selling 163,490 shares during the quarter. First Trust Advisors LP owned 0.83% of Avnet worth $35,484,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its position in Avnet by 3.0% during the first quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after acquiring an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Avnet by 16.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after purchasing an additional 31,919 shares during the period. United Services Automobile Association acquired a new stake in shares of Avnet during the 1st quarter worth approximately $267,000. Empowered Funds LLC increased its holdings in shares of Avnet by 9.3% during the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock valued at $392,000 after purchasing an additional 696 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Avnet by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock valued at $17,012,000 after purchasing an additional 16,443 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of NASDAQ AVT opened at $60.24 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 2.07. The firm has a fifty day moving average of $59.25 and a 200 day moving average of $53.43. The firm has a market cap of $4.93 billion, a PE ratio of 24.69, a PEG ratio of 0.45 and a beta of 0.91. Avnet, Inc. has a one year low of $39.22 and a one year high of $68.29.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the firm posted $0.87 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, research analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a yield of 2.3%. Avnet’s dividend payout ratio (DPR) is currently 57.38%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVT shares. Wells Fargo & Company increased their price target on shares of Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a report on Thursday, January 29th. Truist Financial lifted their price objective on shares of Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, January 29th. Weiss Ratings upgraded shares of Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $54.33.

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.