Mason Street Advisors LLC Reduces Holdings in Avnet (AVT)

Mason Street Advisors LLC cut its position in Avnet (NYSE:AVT) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,659 shares of the technology company’s stock after selling 601 shares during the quarter. Mason Street Advisors LLC’s holdings in Avnet were worth $2,501,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc raised its position in Avnet by 2.8% in the third quarter. Vanguard Group Inc now owns 11,420,607 shares of the technology company’s stock valued at $511,300,000 after purchasing an additional 315,288 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Avnet by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,012,383 shares of the technology company’s stock worth $144,847,000 after acquiring an additional 22,153 shares during the last quarter. LSV Asset Management raised its position in shares of Avnet by 20.1% during the fourth quarter. LSV Asset Management now owns 2,194,268 shares of the technology company’s stock worth $79,213,000 after acquiring an additional 367,093 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Avnet by 2,437.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,741,897 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,673,236 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Avnet by 28.9% during the fourth quarter. Prudential Financial Inc. now owns 1,639,635 shares of the technology company’s stock worth $59,191,000 after acquiring an additional 367,914 shares during the last quarter. Hedge funds and other institutional investors own 96.44% of the company’s stock.

A number of equities research analysts have weighed in on the company. Citigroup set a $47.00 target price on Avnet and gave the stock a “hold” rating in a report on Friday, April 26th. Zacks Investment Research downgraded Avnet from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, TheStreet upgraded Avnet from a “c+” rating to a “b-” rating in a report on Wednesday, April 10th. 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 stock. The stock has an average rating of “Hold” and a consensus price target of $49.00.



In related news, Director James A. Lawrence sold 20,620 shares of Avnet stock in a transaction that occurred 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 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 can be accessed through this link. Also, Director James A. Lawrence sold 187,495 shares of Avnet stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $47.48, for a total value of $8,902,262.60. Following the transaction, the director now directly owns 616,392 shares in the company, valued at approximately $29,266,292.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,911 shares of company stock worth $10,207,871. 1.65% of the stock is owned by insiders.

Shares of Avnet stock opened at $43.93 on Wednesday. Avnet has a 52 week low of $33.55 and a 52 week high of $49.40.

Avnet (NYSE:AVT) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.75 billion. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.82%.

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Avnet Company Profile

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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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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