Atria Investments Inc Decreases Stake in Avnet, Inc. (NASDAQ:AVT)

Atria Investments Inc trimmed its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,627 shares of the company’s stock after selling 549 shares during the period. Atria Investments Inc’s holdings in Avnet were worth $1,989,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Avnet by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock worth $542,918,000 after purchasing an additional 519,478 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Avnet by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,385,547 shares of the company’s stock worth $328,790,000 after buying an additional 39,558 shares in the last quarter. Greenhaven Associates Inc. increased its stake in shares of Avnet by 1.7% in the second quarter. Greenhaven Associates Inc. now owns 3,922,338 shares of the company’s stock worth $201,961,000 after buying an additional 63,801 shares during the last quarter. American Century Companies Inc. raised its holdings in Avnet by 1.6% in the second quarter. American Century Companies Inc. now owns 2,690,326 shares of the company’s stock valued at $138,525,000 after acquiring an additional 42,249 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Avnet by 34.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,844,452 shares of the company’s stock valued at $94,713,000 after acquiring an additional 475,165 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVT has been the topic of several research reports. Wells Fargo & Company upped their price target on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Stifel Nicolaus raised their price target on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Truist Financial lifted their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a report on Friday, August 9th.

Avnet Stock Performance

AVT stock opened at $53.04 on Friday. The firm has a 50 day simple moving average of $53.69 and a 200 day simple moving average of $53.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The stock has a market cap of $4.61 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.99 and a beta of 1.16.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 EPS 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%. Avnet’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. Research analysts anticipate that Avnet, Inc. will post 4.14 earnings per share for the current fiscal year.

About Avnet

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.