Synergy Investment Management LLC Acquires Shares of 722 Avnet, Inc. (NASDAQ:AVT)

Synergy Investment Management LLC acquired a new stake in Avnet, Inc. (NASDAQ:AVT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 722 shares of the company’s stock, valued at approximately $38,000.

A number of other large investors also recently made changes to their positions in the stock. Principal Securities Inc. lifted its stake in shares of Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Avnet by 5.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after purchasing an additional 222 shares during the period. Highland Capital Management LLC lifted its stake in shares of Avnet by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock valued at $222,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC lifted its stake in shares of Avnet by 18.6% in the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares during the period. Finally, Transcend Capital Advisors LLC raised its stake in Avnet by 2.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company’s stock worth $871,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AVT. Truist Financial dropped their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

Avnet Stock Performance

Shares of Avnet stock opened at $49.09 on Thursday. The stock’s fifty day simple moving average is $51.74 and its 200 day simple moving average is $53.13. The company has a market capitalization of $4.25 billion, a PE ratio of 13.91, a PEG ratio of 1.13 and a beta of 1.09. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 12 month low of $45.50 and a 12 month high of $59.24.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. On average, research analysts predict that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

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.