Point72 Hong Kong Ltd lifted its position in Avnet (NYSE:AVT) by 180.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,215 shares of the technology company’s stock after buying an additional 3,999 shares during the period. Point72 Hong Kong Ltd’s holdings in Avnet were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new stake in Avnet during the fourth quarter valued at $25,000. Huntington National Bank bought a new position in Avnet in the fourth quarter valued at about $31,000. Quantum Capital Management purchased a new position in Avnet in the third quarter worth about $43,000. Ancora Advisors LLC purchased a new position in Avnet in the fourth quarter worth about $42,000. Finally, US Bancorp DE boosted its position in Avnet by 53.3% in the fourth quarter. US Bancorp DE now owns 5,193 shares of the technology company’s stock worth $221,000 after purchasing an additional 1,805 shares during the last quarter. 96.44% of the stock is owned by institutional investors.

Avnet stock traded up $1.69 during trading on Thursday, reaching $26.87. The company had a trading volume of 905,320 shares, compared to its average volume of 1,053,748. The firm’s 50-day simple moving average is $30.93 and its 200 day simple moving average is $38.91. Avnet has a 52 week low of $17.85 and a 52 week high of $49.03.

Avnet (NYSE:AVT) last released its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.42 billion. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.13%.

Several equities research analysts have recently commented on AVT shares. SunTrust Banks raised shares of Avnet from a “sell” rating to a “hold” rating and reduced their price target for the company from $36.00 to $28.00 in a research report on Monday, March 16th. Raymond James raised their price objective on shares of Avnet from $45.00 to $47.00 and gave the stock a “strong-buy” rating in a report on Friday, January 24th. Cross Research downgraded shares of Avnet from a “hold” rating to a “sell” rating in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Avnet from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Co raised shares of Avnet from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $22.00 in a report on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $37.83.

Avnet Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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