Schwartz Investment Counsel Inc. decreased its holdings in Avnet, Inc. (NYSE:AVT) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the technology company’s stock after selling 80,000 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 0.07% of Avnet worth $3,144,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Weaver C. Barksdale & Associates Inc. grew its holdings in Avnet by 11.2% in the 2nd quarter. Weaver C. Barksdale & Associates Inc. now owns 2,608 shares of the technology company’s stock valued at $101,000 after buying an additional 262 shares during the period. Pacad Investment Ltd. purchased a new stake in Avnet in the 2nd quarter valued at about $113,000. Daiwa Securities Group Inc. grew its holdings in Avnet by 21.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the technology company’s stock valued at $152,000 after buying an additional 700 shares during the period. Riverhead Capital Management LLC grew its holdings in Avnet by 50.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,659 shares of the technology company’s stock valued at $181,000 after buying an additional 1,559 shares during the period. Finally, M&T Bank Corp purchased a new stake in Avnet in the 2nd quarter valued at about $208,000. Institutional investors own 97.60% of the company’s stock.
In other Avnet news, Director J Veronica Biggins sold 10,600 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.10, for a total value of $393,260.00. Following the transaction, the director now directly owns 12,191 shares of the company’s stock, valued at approximately $452,286.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.65% of the company’s stock.
Several analysts have commented on the company. Cross Research upgraded Avnet from a “sell” rating to a “hold” rating in a report on Friday. Citigroup Inc. lifted their price target on Avnet from $31.00 to $34.00 and gave the company a “sell” rating in a report on Friday. Stifel Nicolaus lifted their price target on Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Avnet from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, October 10th. Finally, TheStreet cut Avnet from a “b” rating to a “c” rating in a report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $40.29.
Avnet, Inc. (AVT) traded up 1.272% during trading on Tuesday, hitting $40.205. The stock had a trading volume of 367,285 shares. The company has a 50 day moving average of $39.80 and a 200-day moving average of $38.83. Avnet, Inc. has a 12-month low of $35.67 and a 12-month high of $51.50. The company has a market cap of $4.95 billion, a P/E ratio of 9.840 and a beta of 1.07.
Avnet (NYSE:AVT) last issued its earnings results on Thursday, October 26th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Avnet had a return on equity of 8.20% and a net margin of 2.86%. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the firm posted $0.91 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Avnet, Inc. will post $3.38 EPS for the current year.
Avnet Company Profile
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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