Massachusetts Financial Services Co. MA Sells 18,532 Shares of Avnet, Inc. $AVT

Massachusetts Financial Services Co. MA lessened its stake in Avnet, Inc. (NASDAQ:AVT – Free Report) by 44.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,438 shares of the company’s stock after selling 18,532 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Avnet were worth $1,127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Avnet by 6.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,984 shares of the company’s stock valued at $156,000 after buying an additional 192 shares during the last quarter. MAI Capital Management grew its position in shares of Avnet by 53.7% in the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after buying an additional 235 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Avnet by 3.5% in the 3rd quarter. Ballentine Partners LLC now owns 7,324 shares of the company’s stock valued at $383,000 after purchasing an additional 249 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Avnet by 53.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares during the period. Finally, Ethic Inc. lifted its stake in shares of Avnet by 1.3% in the 3rd quarter. Ethic Inc. now owns 21,395 shares of the company’s stock valued at $1,119,000 after purchasing an additional 271 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 2.1%

AVT stock opened at $73.85 on Friday. The stock’s 50 day simple moving average is $64.14 and its 200 day simple moving average is $55.28. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $74.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 2.07. The company has a market cap of $6.05 billion, a P/E ratio of 30.27, a price-to-earnings-growth ratio of 0.54 and a beta of 0.90.

Avnet (NASDAQ:AVT – Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. Avnet had a return on equity of 6.08% and a net margin of 0.90%.The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the prior year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. On average, research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, March 4th. Avnet’s dividend payout ratio is 57.38%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVT shares. Wells Fargo & Company boosted their price objective on Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research note on Thursday, January 29th. Wall Street Zen raised Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Truist Financial raised Avnet from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $80.00 in a research note on Monday, April 13th. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Avnet presently has an average rating of “Hold” and an average price target of $59.33.

Get Our Latest Stock Report on Avnet

Avnet Company Profile

(Free Report)

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.

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