Robeco Institutional Asset Management B.V. Acquires 4,368 Shares of Avnet (AVT)
Robeco Institutional Asset Management B.V. increased its holdings in Avnet (NYSE:AVT) by 3.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,547 shares of the technology company’s stock after buying an additional 4,368 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Avnet were worth $5,229,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Pearl River Capital LLC bought a new position in Avnet in the fourth quarter worth approximately $61,000. Osborn Williams & Donohoe LLC bought a new position in Avnet in the first quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Avnet in the fourth quarter worth approximately $108,000. Canada Pension Plan Investment Board raised its stake in Avnet by 5,495.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 6,211 shares of the technology company’s stock worth $224,000 after buying an additional 6,100 shares in the last quarter. Finally, Bailard Inc. bought a new position in Avnet in the first quarter worth approximately $286,000. 96.44% of the stock is owned by institutional investors.
A number of brokerages recently commented on AVT. Zacks Investment Research raised shares of Avnet from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. TheStreet raised Avnet from a “c+” rating to a “b-” rating in a research report on Wednesday, April 10th. Finally, Citigroup set a $47.00 price target on Avnet and gave the stock a “hold” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.00.
Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.75 billion. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 earnings per share.
In other news, Director James A. Lawrence sold 20,620 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.20, for a total transaction of $932,024.00. Following the transaction, the director now directly owns 500,000 shares of the company’s stock, valued at $22,600,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth A. Jacobson sold 7,796 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $47.92, for a total value of $373,584.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,911 shares of company stock worth $10,207,871. Insiders own 1.65% of the company’s stock.
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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