Saddle Road Partners buys $496,031 stake in Avnet (AVT)

Avnet (AVT) : Saddle Road Partners scooped up 899 additional shares in Avnet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 11,312 shares of Avnet which is valued at $496,031.Avnet makes up approximately 0.11% of Saddle Road Partners’s portfolio.

Avnet opened for trading at $44.27 and hit $44.66 on the upside on Wednesday, eventually ending the session at $44.66, with a gain of 0.61% or 0.27 points. The heightened volatility saw the trading volume jump to 6,23,978 shares. Company has a market cap of $5,862 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in AVT during the most recent quarter. The investment firm sold 228,642 shares of AVT which is valued $10,025,952. Gateway Investment Advisers sold out all of its stake in AVT during the most recent quarter. The investment firm sold 4,997 shares of AVT which is valued $219,118.Deroy Devereaux Private Investment Counsel Inc boosted its stake in AVT in the latest quarter, The investment management firm added 2,209 additional shares and now holds a total of 265,592 shares of Avnet which is valued at $11,863,995. Avnet makes up approx 1.61% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.Kanaly Trust Co boosted its stake in AVT in the latest quarter, The investment management firm added 36 additional shares and now holds a total of 458 shares of Avnet which is valued at $20,459.River Mercantile Asset Management Llp reduced its stake in AVT by selling 20,020 shares or 42.31% in the most recent quarter. The Hedge Fund company now holds 27,300 shares of AVT which is valued at $1,188,642. Avnet makes up approx 0.78% of River Mercantile Asset Management Llp’s portfolio.

On the company’s financial health, Avnet reported $1.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $1.25. The company had revenue of $6848.10 million for the quarter, compared to analysts expectations of $7214.06 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.27 EPS.

Many Wall Street Analysts have commented on Avnet. Avnet was Resumed by BofA/Merrill to “Neutral” on Apr 27, 2016.

Avnet Inc. distributes electronic components enterprise computer and storage products information technology solutions and services and embedded subsystems. The Company operates in two segments: Electronics Marketing (EM) and Technology Solutions (TS). Both operating groups have operations in each of the three economic regions of the world: the Americas; Europe the Middle East and Africa; and Asia/Pacific consisting of Asia Australia and New Zealand. The EM segment markets and sells semiconductors and interconnect passive and electromechanical devices and embedded products to a diverse customer base serving many end-markets. The TS segment focuses on the distribution of enterprise computing servers and systems software storage services and complex solutions from the technology manufacturers. The TS segment also provides hard disk drives microprocessor motherboard and dynamic random-access memory module technologies to manufacturers of computers and system builders.

Leave a Reply

Avnet - Is it time to Sell?

Top Brokerage Firms are advising their investors on Avnet. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.