Avnet, Inc. (NASDAQ:AVT) VP Elizabeth Mcmullen sold 3,251 shares of the firm’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $38.47, for a total transaction of $125,065.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
NASDAQ AVT opened at $38.10 on Wednesday. The company has a 50 day simple moving average of $40.04 and a 200-day simple moving average of $41.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.34 and a quick ratio of 1.29. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52. Avnet, Inc. has a 52-week low of $24.30 and a 52-week high of $45.43.
Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Tuesday, August 10th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.27. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.20 billion. Avnet had a net margin of 0.99% and a return on equity of 6.91%. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, analysts predict that Avnet, Inc. will post 4.4 EPS for the current year.
A number of analysts have commented on AVT shares. Raymond James upped their price objective on shares of Avnet from $50.00 to $52.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 12th. TheStreet lowered shares of Avnet from a “b” rating to a “c+” rating in a research note on Wednesday, August 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $39.25.
Several hedge funds and other institutional investors have recently bought and sold shares of AVT. Cullen Frost Bankers Inc. lifted its position in shares of Avnet by 185.0% in the second quarter. Cullen Frost Bankers Inc. now owns 855 shares of the company’s stock worth $34,000 after purchasing an additional 555 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of Avnet in the second quarter worth approximately $89,000. Captrust Financial Advisors lifted its position in shares of Avnet by 602.5% in the first quarter. Captrust Financial Advisors now owns 3,140 shares of the company’s stock worth $130,000 after purchasing an additional 2,693 shares in the last quarter. First Mercantile Trust Co. bought a new position in Avnet during the first quarter valued at approximately $187,000. Finally, Utah Retirement Systems bought a new position in Avnet during the first quarter valued at approximately $212,000. 94.89% of the stock is owned by institutional investors and hedge funds.
Avnet Company Profile
Avnet, Inc engages in the distribution and sale of electronic components. It operates through the Electronics Components and Farnell segments. The Electronics Components segment markets and sells semiconductors, interconnect, passive and electromechanical devices, and integrated components. The Farnell segment involves in the distribution of electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources.
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