6,600 Shares in Avnet, Inc. (NASDAQ:AVT) Bought by Versor Investments LP

Versor Investments LP purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,600 shares of the company’s stock, valued at approximately $358,000.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Avnet by 3.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,850 shares of the company’s stock worth $340,000 after purchasing an additional 243 shares during the last quarter. US Bancorp DE grew its holdings in Avnet by 1.9% in the 1st quarter. US Bancorp DE now owns 13,124 shares of the company’s stock worth $651,000 after acquiring an additional 243 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Avnet by 1.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 116,061 shares of the company’s stock valued at $5,246,000 after acquiring an additional 1,687 shares during the period. Vanguard Group Inc. raised its stake in shares of Avnet by 5.0% during the first quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock valued at $542,918,000 after acquiring an additional 519,478 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Avnet by 21.2% during the first quarter. Acadian Asset Management LLC now owns 170,937 shares of the company’s stock worth $8,474,000 after purchasing an additional 29,884 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Up 0.1 %

Shares of NASDAQ AVT opened at $53.07 on Friday. The stock has a market cap of $4.61 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 0.98 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. 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 of $53.73 and a 200 day moving average of $53.12.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results 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 company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. As a group, sell-side analysts expect that Avnet, Inc. will post 4.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AVT has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a report on Friday, August 9th. Wells Fargo & Company upped their target price on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus raised their price target on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research note 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.