GAMMA Investing LLC Raises Position in Avnet, Inc. (NASDAQ:AVT)

GAMMA Investing LLC lifted its stake in Avnet, Inc. (NASDAQ:AVT) by 18.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,177 shares of the company’s stock after acquiring an additional 341 shares during the quarter. GAMMA Investing LLC’s holdings in Avnet were worth $114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Avnet by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after buying an additional 28,453 shares during the period. Franklin Resources Inc. grew its position in Avnet by 17.1% during the 3rd quarter. Franklin Resources Inc. now owns 52,290 shares of the company’s stock worth $2,895,000 after purchasing an additional 7,619 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Avnet by 9.8% in the third quarter. Synovus Financial Corp now owns 9,460 shares of the company’s stock valued at $514,000 after buying an additional 843 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Avnet by 9.0% during the third quarter. Tidal Investments LLC now owns 13,547 shares of the company’s stock worth $736,000 after buying an additional 1,118 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in Avnet during the 3rd quarter valued at approximately $378,000. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Down 1.5 %

Shares of NASDAQ:AVT opened at $51.77 on Friday. Avnet, Inc. has a fifty-two week low of $43.62 and a fifty-two week high of $59.24. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $53.81 and its 200-day simple moving average is $53.30. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.06. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the firm posted $1.61 EPS. As a group, equities research analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Wednesday, December 4th. Avnet’s payout ratio is 34.55%.

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.