Longboard Asset Management LP purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm purchased 3,947 shares of the company’s stock, valued at approximately $207,000.
A number of other hedge funds have also bought and sold shares of the stock. EMC Capital Management increased its stake in Avnet by 62.7% during the 4th quarter. EMC Capital Management now owns 9,149 shares of the company’s stock valued at $479,000 after purchasing an additional 3,526 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of Avnet by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock worth $222,000 after acquiring an additional 261 shares during the period. Foster & Motley Inc. increased its stake in shares of Avnet by 0.7% in the fourth quarter. Foster & Motley Inc. now owns 130,816 shares of the company’s stock worth $6,844,000 after acquiring an additional 856 shares during the period. Pacer Advisors Inc. increased its stake in shares of Avnet by 11,848.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock worth $148,623,000 after acquiring an additional 2,816,889 shares during the period. Finally, KBC Group NV increased its stake in shares of Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock worth $176,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.
Avnet Stock Performance
AVT opened at $49.99 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.01 and a beta of 1.13. Avnet, Inc. has a 52-week low of $43.62 and a 52-week high of $59.24. The firm’s fifty day simple moving average is $53.14 and its two-hundred day simple moving average is $53.40.
Avnet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, December 4th. Avnet’s payout ratio is 37.39%.
Analysts Set New Price Targets
AVT has been the topic of several analyst reports. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial dropped their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th.
Check Out Our Latest Research Report on Avnet
Avnet Company Profile
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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