Dimensional Fund Advisors LP Boosts Stake in Avnet, Inc. (NASDAQ:AVT)


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Dimensional Fund Advisors LP increased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,737,955 shares of the company’s stock after acquiring an additional 17,124 shares during the period. Dimensional Fund Advisors LP owned approximately 3.76% of Avnet worth $131,238,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AVT. Oppenheimer Asset Management Inc. increased its holdings in Avnet by 1.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 31,568 shares of the company’s stock worth $1,108,000 after acquiring an additional 436 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Avnet by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,406 shares of the company’s stock valued at $330,000 after purchasing an additional 456 shares during the period. Guggenheim Capital LLC increased its stake in shares of Avnet by 8.7% during the third quarter. Guggenheim Capital LLC now owns 8,152 shares of the company’s stock worth $211,000 after purchasing an additional 652 shares in the last quarter. Inspire Advisors LLC acquired a new position in shares of Avnet during the 4th quarter worth about $28,000. Finally, Wedge Capital Management L L P NC lifted its stake in Avnet by 13.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 12,063 shares of the company’s stock valued at $424,000 after buying an additional 1,421 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Several research firms have commented on AVT. Loop Capital boosted their price objective on Avnet from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, January 29th. The Goldman Sachs Group boosted their price target on Avnet from $23.00 to $25.00 and gave the stock a “sell” rating in a research report on Monday, December 14th. Finally, Raymond James raised their price objective on Avnet from $35.00 to $47.00 and gave the company a “strong-buy” rating in a report on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.33.

AVT opened at $42.98 on Thursday. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -47.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.50. The company’s 50 day simple moving average is $39.73 and its two-hundred day simple moving average is $35.30. Avnet, Inc. has a 1-year low of $24.30 and a 1-year high of $43.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.32.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Tuesday, January 26th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.39 by $0.09. Avnet had a positive return on equity of 3.40% and a negative net margin of 0.52%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Avnet, Inc. will post 1.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 24th. Shareholders of record on Wednesday, March 10th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Tuesday, March 9th. Avnet’s dividend payout ratio (DPR) is presently 54.55%.

In other news, Director William H. Schumann sold 4,535 shares of the business’s stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $38.23, for a total transaction of $173,373.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Avnet Profile

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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