Avnet, Inc. (NASDAQ:AVT) Stock Holdings Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in Avnet, Inc. (NASDAQ:AVT) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 36,052 shares of the company’s stock after purchasing an additional 1,210 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avnet were worth $1,958,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AVT. Harbor Capital Advisors Inc. lifted its stake in shares of Avnet by 316.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 45,630 shares of the company’s stock worth $2,349,000 after acquiring an additional 34,675 shares during the period. Vanguard Group Inc. lifted its stake in shares of Avnet by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock worth $542,918,000 after acquiring an additional 519,478 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Avnet by 21.2% in the 1st quarter. Acadian Asset Management LLC now owns 170,937 shares of the company’s stock worth $8,474,000 after acquiring an additional 29,884 shares during the period. Atria Investments Inc acquired a new stake in Avnet during the first quarter valued at approximately $1,872,000. Finally, TCW Group Inc. lifted its stake in Avnet by 72.5% during the second quarter. TCW Group Inc. now owns 58,611 shares of the company’s stock valued at $3,018,000 after purchasing an additional 24,636 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVT. Wells Fargo & Company increased their target price on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. Truist Financial increased their target price 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, Stifel Nicolaus boosted their price target on shares of Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 9th.

Avnet Trading Up 0.1 %

AVT opened at $53.07 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $4.61 billion, a PE ratio of 13.89, a PEG ratio of 0.99 and a beta of 1.16. Avnet, Inc. has a 1-year low of $43.62 and a 1-year high of $59.24. The firm has a 50-day moving average price of $53.73 and a two-hundred day moving average price of $53.19.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. Avnet’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 EPS. As a group, equities analysts anticipate that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

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.