Avnet (AVT) Holdings Reduced by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its position in Avnet (NYSE:AVT) by 6.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 185,289 shares of the technology company’s stock after selling 12,500 shares during the period. Guggenheim Capital LLC owned 0.16% of Avnet worth $7,739,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in shares of Avnet in the 1st quarter worth approximately $103,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Avnet by 135.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,977 shares of the technology company’s stock worth $198,000 after acquiring an additional 2,859 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Avnet in the 4th quarter worth approximately $257,000. Nuveen Asset Management LLC bought a new position in shares of Avnet in the 1st quarter worth approximately $295,000. Finally, LPL Financial LLC bought a new position in shares of Avnet in the 1st quarter worth approximately $329,000. 96.44% of the stock is owned by hedge funds and other institutional investors.

Avnet opened at $42.89 on Friday, MarketBeat reports. The company has a current ratio of 2.75, a quick ratio of 1.58 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.63 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.08 and a beta of 0.99. Avnet has a twelve month low of $35.67 and a twelve month high of $44.85.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Thursday, April 26th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.83 billion. Avnet had a positive return on equity of 8.08% and a negative net margin of 0.72%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. analysts expect that Avnet will post 3.52 EPS for the current fiscal year.

Several research analysts have recently issued reports on the company. Pivotal Research raised Avnet from a “hold” rating to a “buy” rating and increased their target price for the stock from $42.00 to $50.00 in a research report on Friday, June 15th. TheStreet downgraded Avnet from a “b” rating to a “c+” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Avnet from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday. Goldman Sachs Group downgraded Avnet from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a research note on Wednesday, May 16th. Finally, ValuEngine downgraded Avnet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.14.

Avnet Company 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.

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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