Bank of America Corp DE acquired 1,034,043 shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter. The new position is valued at approximately $91.84 million. This investment gives the bank a 1.26% stake in the electronics component distributor.
Avnet reported earnings per share of $2.28 on August 5th. This result significantly beat the consensus estimate of $1.80. Quarterly revenues reached $8.30 billion, representing a 47.7% increase year-over-year. The company also provided strong guidance for the first quarter of 2027.