Sciencast Management LP Has $639,000 Stake in Avnet (NYSE:AVT)

Sciencast Management LP lifted its position in Avnet (NYSE:AVT) by 156.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,897 shares of the technology company’s stock after acquiring an additional 9,097 shares during the period. Sciencast Management LP’s holdings in Avnet were worth $639,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC increased its position in shares of Avnet by 23.5% in the fourth quarter. Meadow Creek Investment Management LLC now owns 15,456 shares of the technology company’s stock worth $612,000 after acquiring an additional 2,940 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Avnet by 135.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,977 shares of the technology company’s stock worth $198,000 after acquiring an additional 2,859 shares in the last quarter. Tyers Asset Management LLC increased its position in shares of Avnet by 23.5% in the fourth quarter. Tyers Asset Management LLC now owns 8,832 shares of the technology company’s stock worth $350,000 after acquiring an additional 1,680 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Avnet by 11.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 506,552 shares of the technology company’s stock worth $20,070,000 after acquiring an additional 52,483 shares in the last quarter. Finally, Paloma Partners Management Co increased its position in shares of Avnet by 146.8% in the fourth quarter. Paloma Partners Management Co now owns 31,255 shares of the technology company’s stock worth $1,238,000 after acquiring an additional 18,590 shares in the last quarter. 96.44% of the stock is currently owned by institutional investors and hedge funds.

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Shares of AVT opened at $40.34 on Friday. Avnet has a 52 week low of $35.67 and a 52 week high of $45.09. The company has a market cap of $4,968.13, a P/E ratio of 12.66, a P/E/G ratio of 1.32 and a beta of 0.96. The company has a current ratio of 2.75, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.

Avnet (NYSE:AVT) last posted its earnings results on Thursday, January 25th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Avnet had a net margin of 2.51% and a return on equity of 7.87%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. equities research analysts predict that Avnet will post 3.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 13th were paid a $0.19 dividend. The ex-dividend date was Monday, March 12th. This is a boost from Avnet’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.88%. Avnet’s payout ratio is 23.46%.

AVT has been the topic of several analyst reports. Goldman Sachs raised shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 target price on the stock in a research report on Friday, January 5th. Longbow Research raised shares of Avnet from a “neutral” rating to a “buy” rating in a research report on Friday, January 19th. Pivotal Research started coverage on shares of Avnet in a research report on Tuesday, February 13th. They set a “hold” rating and a $44.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Avnet from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Avnet currently has an average rating of “Hold” and a consensus price target of $40.13.

In other Avnet news, insider Philip R. Gallagher sold 14,292 shares of Avnet stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $42.00, for a total value of $600,264.00. Following the completion of the sale, the insider now directly owns 22,178 shares in the company, valued at $931,476. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin V. Summers sold 1,511 shares of Avnet stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $40.67, for a total transaction of $61,452.37. Following the completion of the sale, the insider now owns 5,354 shares of the company’s stock, valued at $217,747.18. The disclosure for this sale can be found here. 1.65% of the stock is owned by insiders.

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Avnet Company Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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