Avnet (AVT) : Centurylink Investment Management Co scooped up 5,100 additional shares in Avnet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 38,530 shares of Avnet which is valued at $1,610,169.Avnet makes up approximately 0.55% of Centurylink Investment Management Co’s portfolio.
Other Hedge Funds, Including , Weaver C. Barksdale Associates boosted its stake in AVT in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 3,211 shares of Avnet which is valued at $134,188. Avnet makes up approx 0.23% of Weaver C. Barksdale Associates’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in AVT in the latest quarter, The investment management firm added 5,649 additional shares and now holds a total of 85,598 shares of Avnet which is valued at $3,640,483. Avnet makes up approx 0.08% of Oregon Public Employees Retirement Fund’s portfolio.New England Research Management boosted its stake in AVT in the latest quarter, The investment management firm added 3,400 additional shares and now holds a total of 20,200 shares of Avnet which is valued at $865,368. Avnet makes up approx 0.73% of New England Research Management’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in AVT in the latest quarter, The investment management firm added 14,462 additional shares and now holds a total of 87,357 shares of Avnet which is valued at $3,742,374. Avnet makes up approx 2.10% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.Cacti Asset Management reduced its stake in AVT by selling 3,500 shares or 59.17% in the most recent quarter. The Hedge Fund company now holds 2,415 shares of AVT which is valued at $103,459. Avnet makes up approx 0.01% of Cacti Asset Management’s portfolio.
Avnet closed down -0.74 points or -1.74% at $41.79 with 8,44,713 shares getting traded on Tuesday. Post opening the session at $42.4, the shares hit an intraday low of $41.68 and an intraday high of $42.4 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.
Many Wall Street Analysts have commented on Avnet. Shares were Downgraded by Stifel on Sep 20, 2016 to ” Hold” and Lowered the Price Target to $ 44 from a previous price target of $47 .
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.