Pzena Investment Management Reduces $119M in Avnet, Inc. ($AVT)
Key Points
- Pzena Investment Management changed its Avnet, Inc. ($AVT) stake by 19.1% last quarter, cutting to 5,692,230 shares worth $503.71 million.
- $AVT last traded around $88.49.
Pzena Investment Management reduced its position in Avnet, Inc. ($AVT) by 19.1% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,692,230 shares of Avnet, Inc. after selling 1,345,568 shares during the quarter. Pzena Investment Management's holdings in Avnet, Inc. were worth $503.71 million as of its most recent filing.
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About Avnet, Inc.
Avnet, Inc., distributes electronic component technology in the Americas, Europe, the Middle East, Africa, and Asia/Pacific. It operates through two segments, Electronic Components and Farnell. The company markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated and embedded components from electronic component manufacturers. It also offers design support that provides engineers with technical design solutions; engineering and technical resources to support product design, bill of materials development, and technical education and training; and supply chain solutions which provides support, warehousing, and logistics services to original equipment manufacturers, electronic manufacturing service providers, and electronic component manufacturers. In addition, the company provides embedded solutions, such as technical design, integration, and assembly of embedded products, systems, and solutions, as well as embedded display solutions comprising touch and passive displays; and develops and produces standard board and industrial subsystems, and application-specific devices that enable it to produce systems tailored to specific customer requirements. It serves various markets, such as automotive, defense, aerospace, medical, telecommunications, industrial, and digital editing. Further, it distributes kits, tools, and electronic and industrial automation components, as well as test and measurement products to engineers and entrepreneurs. Avnet, Inc. was founded in 1921 and is headquartered in Phoenix, Arizona.
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