5 Best Stocks to Buy for Medium Term

3. Avnet, Inc. (NYSE:AVT)

Dividend Yield as of February 27: 2.54%

Number of Hedge Fund Holders: 31

Avnet, Inc. (NYSE:AVT) is an information technology company based in Phoenix, Arizona. The company markets, sells, and distributes electronic components.

Jim Suva at Citigroup holds a Neutral rating on Avnet, Inc. (NYSE:AVT) shares as of February 2. The analyst also raised his price target on the stock from $45 to $50.

Avnet, Inc. (NYSE:AVT) is a strong dividend stock that has raised its yield for the past eight years. The company has a low payout ratio of about 13.38%. In the fiscal second quarter of 2023, the company generated $6.72 billion in revenue, representing a revenue growth rate of 14.53% year-over-year.

A total of 31 hedge funds were long Avnet, Inc. (NYSE:AVT) in the fourth quarter. Their total stake value was $688 million.

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