Avnet, Inc. (NASDAQ:AVT – Get Rating) CEO Philip R. Gallagher sold 32,740 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $41.35, for a total value of $1,353,799.00. Following the completion of the sale, the chief executive officer now owns 176,334 shares of the company’s stock, valued at $7,291,410.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Avnet Stock Down 0.5 %
NASDAQ:AVT opened at $41.12 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 2.63. The company has a market cap of $3.76 billion, a PE ratio of 4.52 and a beta of 1.35. Avnet, Inc. has a 52-week low of $35.45 and a 52-week high of $50.19. The stock has a 50-day simple moving average of $42.63 and a 200 day simple moving average of $44.28.
Avnet (NASDAQ:AVT – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.78 by $0.22. Avnet had a return on equity of 17.71% and a net margin of 3.27%. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the prior year, the firm posted $2.15 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Avnet, Inc. will post 7.42 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Ratings Changes
AVT has been the subject of several recent analyst reports. StockNews.com initiated coverage on Avnet in a report on Thursday, March 16th. They issued a “hold” rating for the company. JPMorgan Chase & Co. increased their price objective on Avnet from $45.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 2nd. Citigroup increased their price objective on Avnet from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Finally, Wells Fargo & Company increased their price objective on Avnet from $35.00 to $38.00 and gave the stock an “underweight” rating in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, Avnet presently has a consensus rating of “Hold” and an average target price of $44.00.
Avnet Company Profile
Avnet, Inc engages in the distribution and sale of electronic components. It operates through the Electronic Components and Farnell segments. The Electronic Components segment markets and sells semiconductors, interconnect, passive and electromechanical devices, and integrated components. The Farnell segment is involved in the distribution of electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources.
- Get a free copy of the StockNews.com research report on Avnet (AVT)
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