Cetera Investment Advisers Purchases 340 Shares of Avnet, Inc. $AVT

Cetera Investment Advisers increased its position in shares of Avnet, Inc. (NASDAQ:AVT) by 5.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 6,244 shares of the company’s stock after buying an additional 340 shares during the period. Cetera Investment Advisers’ holdings in Avnet were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Legacy Advisors LLC acquired a new stake in Avnet during the 1st quarter worth about $26,000. GeoWealth Management LLC acquired a new position in shares of Avnet in the 4th quarter valued at about $31,000. Natixis boosted its position in shares of Avnet by 1,463.8% during the 4th quarter. Natixis now owns 735 shares of the company’s stock valued at $38,000 after purchasing an additional 688 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Avnet by 43.0% during the first quarter. TD Private Client Wealth LLC now owns 818 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares during the period. Finally, Curat Global LLC acquired a new stake in Avnet during the first quarter worth approximately $42,000. Institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

AVT has been the topic of several recent analyst reports. Bank of America boosted their price target on Avnet from $48.00 to $50.00 and gave the company an “underperform” rating in a research note on Monday, August 11th. Truist Financial lifted their price objective on shares of Avnet from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company cut their target price on shares of Avnet from $45.00 to $43.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Avnet has a consensus rating of “Sell” and an average target price of $49.00.

Avnet Stock Performance

Shares of Avnet stock opened at $53.28 on Thursday. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $59.24. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $53.53 and a 200-day moving average price of $50.72. The company has a market cap of $4.45 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 0.39 and a beta of 1.06.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. The business had revenue of $5.62 billion during the quarter, compared to the consensus estimate of $5.36 billion. Avnet had a return on equity of 6.07% and a net margin of 1.08%.Avnet’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share. Equities analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

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.