Speece Thorson Capital Group Inc buys $9,887,568 stake in Avnet (AVT)

Avnet (AVT) : Speece Thorson Capital Group Inc scooped up 3,384 additional shares in Avnet during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 242,105 shares of Avnet which is valued at $9,887,568.Avnet makes up approximately 2.12% of Speece Thorson Capital Group Inc’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in AVT by selling 3,484 shares or 2.06% in the most recent quarter. The Hedge Fund company now holds 165,777 shares of AVT which is valued at $6,770,333. Avnet makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in AVT in the latest quarter, The investment management firm added 33,953 additional shares and now holds a total of 78,470 shares of Avnet which is valued at $3,236,888. Avnet makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Avnet opened for trading at $41.09 and hit $41.25 on the upside on Friday, eventually ending the session at $41.1, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 6,73,483 shares. Company has a market cap of $5,282 M.

On the company’s financial health, Avnet reported $1.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.98. The company had revenue of $6174.71 million for the quarter, compared to analysts expectations of $6309.03 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

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 .Shares were Downgraded by Citigroup on May 2, 2016 to ” Sell” and Lowered the Price Target to $ 34 from a previous price target of $49 .

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.

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