Avnet (AVT) : Fort Washington Investment Advisors Inc Oh scooped up 1,223 additional shares in Avnet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 1,450,400 shares of Avnet which is valued at $60,336,640.Avnet makes up approximately 1.10% of Fort Washington Investment Advisors Inc Oh’s portfolio.
Other Hedge Funds, Including , Argi Investment Services boosted its stake in AVT in the latest quarter, The investment management firm added 1,040 additional shares and now holds a total of 22,110 shares of Avnet which is valued at $919,776. Avnet makes up approx 0.09% of Argi Investment Services’s portfolio.Boston Partners reduced its stake in AVT by selling 1,225,823 shares or 20.47% in the most recent quarter. The Hedge Fund company now holds 4,761,275 shares of AVT which is valued at $193,641,054. Avnet makes up approx 0.27% of Boston Partners’s portfolio.Gsa Capital Partners Llp boosted its stake in AVT in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 32,602 shares of Avnet which is valued at $1,325,923. Avnet makes up approx 0.07% of Gsa Capital Partners Llp’s portfolio.Signaturefd boosted its stake in AVT in the latest quarter, The investment management firm added 335 additional shares and now holds a total of 618 shares of Avnet which is valued at $25,400.Waverton Investment Management Ltd reduced its stake in AVT by selling 28,625 shares or 12.42% in the most recent quarter. The Hedge Fund company now holds 201,792 shares of AVT which is valued at $8,293,651. Avnet makes up approx 0.61% of Waverton Investment Management Ltd’s portfolio.
Avnet opened for trading at $41.77 and hit $41.98 on the upside on Tuesday, eventually ending the session at $41.54, with a gain of 0.10% or 0.04 points. The heightened volatility saw the trading volume jump to 5,81,081 shares. Company has a market cap of $5,291 M.
On the company’s financial health, Avnet reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 10, 2016. Analyst had a consensus of $0.83. The company had revenue of $6226.81 million for the quarter, compared to analysts expectations of $6205.57 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.
Investors should note that on Aug 12, 2016, Avnet announced a cash dividend of $0.1700. The company’s management has announced Sep 2, 2016 as the ex-dividend date and fixed the record date on Sep 7, 2016. The payable date has been fixed on Sep 16, 2016.
Many Wall Street Analysts have commented on Avnet. Avnet was Downgraded by Longbow to ” Neutral” on Jul 11, 2016. Company shares were Upgraded by Goldman on Jun 7, 2016 to ” Neutral”, Firm has raised the Price Target to $ 41 from a previous price target of $39 .
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.