421 institutions hold shares in Avnet Inc. (AVT), with 894.1k shares held by insiders accounting for 0.90% while institutional investors hold 97.89% of the company’s shares. The shares outstanding are 98.94M, and float is at 98.56M with Short Float at 2.28%. Institutions hold 97.01% of the Float.
The top institutional shareholder in the company is Pzena Investment Management, LLC with over 12.56 million shares valued at $441.04 million. The investor’s holdings represent 12.63% of the AVT Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 10.68 million shares valued at $375.0 million to account for 10.74% of the shares outstanding. The other top investors are Blackrock Inc. which holds 8.68 million shares representing 8.73% and valued at over $304.68 million, while State Street Corporation holds 4.27% of the shares totaling 4.25 million with a market value of $149.19 million.
Avnet Inc. (NASDAQ: AVT) is 25.80% higher on its value in year-to-date trading and has touched a low of $24.30 and a high of $44.92 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The AVT stock was last observed hovering at around $43.65 in the last trading session, with the day’s gains setting it 0.52% off its average median price target of $48.00 for the next 12 months. It is also 16.66% off the consensus price target high of $53.00 offered by 11 analysts, but current levels are -38.03% lower than the price target low of $32.00 for the same period.
Currently trading at $44.17, the stock is 1.59% and 7.90% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.79 million and changing 1.19% at the moment leaves the stock 33.69% off its SMA200. AVT registered 45.82% gain for a year compared to 6-month gain of 69.75%. The firm has a 50-day simple moving average (SMA 50) of $42.13 and a 200-day simple moving average (SMA200) of $35.75.
The stock witnessed a 7.42% loss in the last 1 month and extending the period to 3 months gives it a 23.00%, and is 1.61% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.72% over the week and 1.81% over the month.
Avnet Inc. (AVT) has around 14600 employees, a market worth around $4.32B and $17.86B in sales. Fwd P/E is 15.19. Profit margin for the company is -0.40%. Distance from 52-week low is 81.77% and -1.67% from its 52-week high. The company has generated returns on investments over the last 12 months (1.50%).
Avnet Inc. (AVT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Avnet Inc. (AVT) is a “Hold”. 11 analysts offering their recommendations for the stock have an average rating of 2.80, where 7 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Avnet Inc. is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.7 with sales reaching $4.88B over the same period.The EPS is expected to shrink by -117.10% this year, but quarterly earnings will post 8.50% year-over-year. Quarterly sales are estimated to grow 17.30% in year-over-year returns.
Avnet Inc. (AVT) Insider Activity
A total of 26 insider transactions have happened at Avnet Inc. (AVT) in the last six months, with sales accounting for 9 and purchases happening 17 times. The most recent transaction is an insider sale by SCHUMANN WILLIAM H, the company’s Director. SEC filings show that SCHUMANN WILLIAM H sold 4,535 shares of the company’s common stock on Feb 09 at a price of $38.23 per share for a total of $0.17 million. Following the sale, the insider now owns 0.0 shares.
Avnet Inc. disclosed in a document filed with the SEC on Dec 16 that Badhorn Dayna (Global VP, Strategic Planning) bought a total of 22 shares of the company’s common stock. The trade occurred on Dec 16 and was made at $32.02 per share for $704.0. Following the transaction, the insider now directly holds 19156.0 shares of the AVT stock.
Still, SEC filings show that on Dec 03, KHAYKIN OLEG (Director) acquired 9,000 shares at an average price of $32.28 for $0.29 million. The insider now directly holds 9,000 shares of Avnet Inc. (AVT).
Avnet Inc. (AVT): Who are the competitors?
The company’s main competitors (and peers) include HP Inc. (HPQ) that is trading 113.14% up over the past 12 months. International Business Machines Corporation (IBM) is 12.08% up on the 1-year trading charts. Short interest in the company’s stock has fallen -43.31% from the last report on Apr 14, 2021 to stand at a total of 2.25 million short shares sold with a short interest ratio of 2.95.