Fmr LLC Has $31.33 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Fmr LLC grew its holdings in Avnet, Inc. (NASDAQ:AVT) by 24.7% during the 3rd quarter, Holdings Channel reports. The firm owned 576,794 shares of the company’s stock after purchasing an additional 114,217 shares during the period. Fmr LLC’s holdings in Avnet were worth $31,326,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fifth Third Bancorp lifted its holdings in Avnet by 35.2% in the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after buying an additional 214 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Avnet in the 3rd quarter valued at $51,000. nVerses Capital LLC bought a new position in shares of Avnet in the 2nd quarter worth $77,000. GAMMA Investing LLC grew its stake in shares of Avnet by 20.2% during the third quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock worth $100,000 after purchasing an additional 309 shares during the period. Finally, Blue Trust Inc. increased its holdings in Avnet by 38.7% in the second quarter. Blue Trust Inc. now owns 2,995 shares of the company’s stock valued at $148,000 after purchasing an additional 836 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Down 0.8 %

NASDAQ:AVT opened at $54.21 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48. Avnet, Inc. has a 1-year low of $43.62 and a 1-year high of $59.24. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.03 and a beta of 1.14. The business’s 50-day moving average price is $54.50 and its two-hundred day moving average price is $53.41.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. On average, equities analysts expect that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.43%. The ex-dividend date is Wednesday, December 4th. Avnet’s payout ratio is 34.56%.

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.