Avnet, Inc. (NASDAQ:AVT) Director Sells $489,600.00 in Stock

Avnet, Inc. (NASDAQ:AVTGet Free Report) Director Carlo Bozotti sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $54.40, for a total value of $489,600.00. Following the completion of the sale, the director now owns 11,578 shares of the company’s stock, valued at $629,843.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Avnet Trading Up 1.8 %

NASDAQ:AVT opened at $54.95 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $4.97 billion, a PE ratio of 8.89 and a beta of 1.21. The firm’s 50 day moving average is $49.68 and its 200 day moving average is $48.10. Avnet, Inc. has a 12 month low of $42.42 and a 12 month high of $55.00.

Avnet (NASDAQ:AVTGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.71 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the firm posted $2.00 EPS. Sell-side analysts expect that Avnet, Inc. will post 5.06 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.26%. Avnet’s dividend payout ratio is 20.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVT. Rise Advisors LLC purchased a new position in Avnet in the 1st quarter valued at approximately $29,000. Venturi Wealth Management LLC grew its stake in Avnet by 46.5% in the 4th quarter. Venturi Wealth Management LLC now owns 655 shares of the company’s stock valued at $33,000 after buying an additional 208 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Avnet in the 4th quarter valued at approximately $40,000. Hexagon Capital Partners LLC grew its stake in Avnet by 1,113.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 898 shares of the company’s stock valued at $45,000 after buying an additional 824 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Avnet in the 4th quarter valued at approximately $63,000. 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 recent research reports. Truist Financial dropped their price target on shares of Avnet from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group dropped their target price on shares of Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.00.

View Our Latest Stock Analysis on AVT

Avnet Company Profile

(Get Free Report)

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.

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