Fri Sep 20 07:43:13 UTC 2024: ## Avnet (AVT) Sees Significant Institutional Activity and Mixed Analyst Sentiment

**New York, NY – September 20, 2024** – Avnet, Inc. (NASDAQ: AVT), a leading distributor of electronic component technology, experienced significant institutional activity in the second quarter, with Acadian Asset Management LLC notably decreasing its stake by 96.3%. However, other institutional investors like Fifth Third Bancorp and Hexagon Capital Partners LLC increased their holdings, indicating a mixed sentiment towards the company.

Acadian Asset Management LLC’s holdings in Avnet were worth $326,000 at the end of the quarter, after selling 164,587 shares. Several other hedge funds and institutional investors also modified their positions, with some showing a growing interest in Avnet.

Research firms have issued a range of opinions on Avnet, with Stifel Nicolaus and Truist Financial upping their price targets but maintaining a “hold” rating. Wells Fargo & Company, however, lowered its price objective and assigned an “underweight” rating. Overall, MarketBeat reports an average rating of “Hold” with an average price target of $48.50.

Avnet stock opened at $52.55 on Friday, with a market capitalization of $4.75 billion. The company recently reported strong earnings, exceeding analysts’ estimates for the quarter.

Avnet also announced an increase in its quarterly dividend, which will be paid on Wednesday, September 25th. This represents a $1.32 dividend on an annualized basis and a yield of 2.51%.

While institutional investor activity surrounding Avnet is mixed, the company continues to demonstrate strong financial performance, with a growing dividend and positive earnings reports.

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