Atria Investments Inc Has $1.99 Million Position in Avnet, Inc. (NASDAQ:AVT)

Atria Investments Inc decreased its position in shares of Avnet, Inc. (NASDAQ:AVT) by 1.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 36,627 shares of the company’s stock after selling 549 shares during the quarter. Atria Investments Inc’s holdings in Avnet were worth $1,989,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Avnet by 35.2% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after purchasing an additional 214 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Avnet during the 3rd quarter worth about $51,000. nVerses Capital LLC bought a new stake in shares of Avnet in the 2nd quarter valued at about $77,000. Versant Capital Management Inc raised its position in shares of Avnet by 729.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock valued at $79,000 after acquiring an additional 1,350 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Avnet by 68.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock worth $79,000 after acquiring an additional 620 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Avnet Price Performance

Shares of Avnet stock opened at $53.04 on Friday. The company has a 50-day simple moving average of $53.69 and a two-hundred day simple moving average of $53.10. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. Analysts forecast that Avnet, Inc. will post 4.14 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVT shares. Stifel Nicolaus increased their price target on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Truist Financial lifted their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised their price objective on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Friday, August 9th.

Avnet 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.