Mn Services Vermogensbeheer B.V. Raises Stake in Avnet, Inc. (AVT)

Mn Services Vermogensbeheer B.V. raised its position in Avnet, Inc. (NYSE:AVT) by 524.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,820 shares of the technology company’s stock after buying an additional 17,488 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Avnet were worth $809,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AVT. Alpha Windward LLC increased its stake in Avnet by 0.5% in the first quarter. Alpha Windward LLC now owns 11,189 shares of the technology company’s stock worth $512,000 after buying an additional 60 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Avnet by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,940 shares of the technology company’s stock worth $867,000 after buying an additional 100 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Avnet by 1.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,457 shares of the technology company’s stock worth $432,000 after buying an additional 164 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Avnet by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 22,213 shares of the technology company’s stock worth $1,016,000 after buying an additional 217 shares during the last quarter. Finally, World Asset Management Inc increased its stake in Avnet by 2.2% in the first quarter. World Asset Management Inc now owns 10,593 shares of the technology company’s stock worth $485,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 98.73% of the company’s stock.

Avnet, Inc. (NYSE AVT) traded down 1.04% during mid-day trading on Wednesday, reaching $37.91. 2,047,153 shares of the company’s stock traded hands. The stock has a market cap of $4.74 billion, a P/E ratio of 9.11 and a beta of 1.04. Avnet, Inc. has a 1-year low of $35.96 and a 1-year high of $51.50. The firm has a 50-day moving average price of $38.93 and a 200-day moving average price of $41.97.

Avnet (NYSE:AVT) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. Avnet had a net margin of 2.83% and a return on equity of 9.24%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. Equities research analysts anticipate that Avnet, Inc. will post $3.18 EPS for the current fiscal year.

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A number of research firms recently commented on AVT. BidaskClub downgraded shares of Avnet from a “sell” rating to a “strong sell” rating in a report on Saturday. Citigroup Inc. reissued a “sell” rating and issued a $31.00 target price on shares of Avnet in a research report on Friday, April 28th. Zacks Investment Research raised shares of Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine downgraded shares of Avnet from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, SunTrust Banks, Inc. downgraded shares of Avnet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $39.00 in a research report on Friday, April 28th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.22.

In other Avnet news, CFO Kevin M. Moriarty purchased 6,933 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average cost of $36.08 per share, with a total value of $250,142.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James A. Lawrence purchased 408,451 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average cost of $36.99 per share, with a total value of $15,108,602.49. Following the completion of the purchase, the director now directly owns 416,549 shares in the company, valued at $15,408,147.51. The disclosure for this purchase can be found here. Company insiders own 1.47% of the company’s stock.

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.

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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