Avnet Inc (NASDAQ: AVT) is -3.59% lower on its value in year-to-date trading and has touched a low of $45.50 and a high of $59.24 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AVT stock was last observed hovering at around $49.15 in the last trading session, with the day’s gains setting it 1.29%.
Currently trading at $50.44, the stock is -0.40% and -2.40% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.83 million and changing 2.62% at the moment leaves the stock -4.83% off its SMA200. AVT registered 6.71% gain for a year compared to 6-month loss of -3.24%.
The stock witnessed a -0.30% gain in the last 1 month and extending the period to 3 months gives it a -9.38%, and is -0.20% down 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 2.88% over the week and 2.19% over the month.
Avnet Inc (AVT) has around 15462 employees, a market worth around $4.36B and $22.48B in sales. Current P/E ratio is 14.30 and Fwd P/E is 9.01. Profit margin for the company is 1.41%. Distance from 52-week low is 10.85% and -14.85% from its 52-week high. The company has generated returns on investments over the last 12 months (4.19%).
with sales reaching $5.25B over the same period.The EPS is expected to shrink by -36.40% this year, but quarterly earnings will post -7.48% year-over-year. Quarterly sales are estimated to shrink -7.11% in year-over-year returns.
Avnet Inc (AVT) Top Institutional Holders
The shares outstanding are 86.33M, and float is at 85.73M with Short Float at 6.29%.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 11.04 million shares valued at $568.21 million. The investor’s holdings represent 12.2033% of the AVT Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 10.72 million shares valued at $552.16 million to account for 11.8585 of the shares outstanding. The other top investors are PZENA INVESTMENT MANAGEMENT LLC which holds 8.58 million shares representing 9.4701% and valued at over $441.62 million, while DIMENSIONAL FUND ADVISORS LP holds 7.0506 of the shares totaling 6.39 million with a market value of $328.79 million.
Avnet Inc (AVT) Insider Activity
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Avnet Inc disclosed in a document filed with the SEC on Aug 29 ’24 that LAWRENCE JAMES A (Director) sold a total of 3,642 shares of the company’s common stock. The trade occurred on Aug 29 ’24 and was made at $54.83 per share for $0.2 million. Following the transaction, the insider now directly holds 0.0 shares of the AVT stock.
Still, SEC filings show that on Aug 15 ’24, McMullen Elizabeth (Senior VP – Operations) disposed off 1,234 shares at an average price of $54.35 for $67068.0. The insider now directly holds 15,048 shares of Avnet Inc (AVT).
