Avnet (AVT) : Fruth Investment Management reduced its stake in Avnet by 2.28% during the most recent quarter end. The investment management company now holds a total of 42,850 shares of Avnet which is valued at $1,790,702 after selling 1,000 shares in Avnet , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Avnet makes up approximately 0.91% of Fruth Investment Management’s portfolio.
Other Hedge Funds, Including , Daiwa Sb Investments Ltd. added AVT to its portfolio by purchasing 70 company shares during the most recent quarter which is valued at $2,925.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.Advisory Services Network reduced its stake in AVT by selling 3 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 102 shares of AVT which is valued at $4,344.Bnp Paribas Arbitrage Sa reduced its stake in AVT by selling 22,070 shares or 28.13% in the most recent quarter. The Hedge Fund company now holds 56,400 shares of AVT which is valued at $2,416,176. Avnet makes up approx 0.01% of Bnp Paribas Arbitrage Sa’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.
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.