Jane Street Group LLC lifted its stake in shares of Avnet (NYSE:AVT) by 11.3% during the 4th quarter, Holdings Channel reports. The firm owned 12,428 shares of the technology company’s stock after buying an additional 1,262 shares during the quarter. Jane Street Group LLC’s holdings in Avnet were worth $492,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Verition Fund Management LLC lifted its position in shares of Avnet by 63.6% during the fourth quarter. Verition Fund Management LLC now owns 23,029 shares of the technology company’s stock worth $912,000 after purchasing an additional 8,956 shares during the last quarter. Millennium Management LLC lifted its position in shares of Avnet by 5.8% during the fourth quarter. Millennium Management LLC now owns 599,625 shares of the technology company’s stock worth $23,757,000 after purchasing an additional 33,020 shares during the last quarter. Sciencast Management LP lifted its position in shares of Avnet by 156.8% during the fourth quarter. Sciencast Management LP now owns 14,897 shares of the technology company’s stock worth $639,000 after purchasing an additional 9,097 shares during the last quarter. Meadow Creek Investment Management LLC lifted its position in shares of Avnet by 23.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 15,456 shares of the technology company’s stock worth $612,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Avnet by 135.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,977 shares of the technology company’s stock worth $198,000 after purchasing an additional 2,859 shares during the last quarter. 96.44% of the stock is currently owned by institutional investors and hedge funds.
In other Avnet news, insider Kevin V. Summers sold 1,511 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $40.67, for a total value of $61,452.37. Following the sale, the insider now owns 5,354 shares in the company, valued at $217,747.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip R. Gallagher sold 14,292 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $42.00, for a total transaction of $600,264.00. Following the completion of the sale, the insider now owns 22,178 shares in the company, valued at approximately $931,476. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on the stock. Pivotal Research assumed coverage on shares of Avnet in a research report on Tuesday, February 13th. They set a “hold” rating and a $44.00 price target on the stock. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Goldman Sachs upgraded shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective on the stock in a research note on Friday, January 5th. Finally, Zacks Investment Research lowered shares of Avnet from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Avnet currently has a consensus rating of “Hold” and an average target price of $40.13.
AVT opened at $40.34 on Monday. The stock has a market cap of $4,838.58, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. Avnet has a fifty-two week low of $35.67 and a fifty-two week high of $45.09. 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 released its quarterly earnings data on Thursday, January 25th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.46 billion. Avnet had a net margin of 2.51% and a return on equity of 7.87%. Avnet’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. sell-side analysts predict that Avnet will post 3.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th were paid a dividend of $0.19 per share. This is a positive change from Avnet’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 12th. This represents a $0.76 annualized dividend and a yield of 1.88%. Avnet’s dividend payout ratio is 23.46%.
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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.
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