Headlines about Avnet (NYSE:AVT) have been trending somewhat positive recently, according to Accern. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Avnet earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 44.8372185302884 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the headlines that may have impacted Accern’s analysis:
- Avnet Eases Wireless Systems’ Development with Murata 1DX Wi-Fi Bluetooth Pmod (finance.yahoo.com)
- Avnet, Inc. (NYSE:AVT) to Release Quarterly Earnings on Wednesday (americanbankingnews.com)
- Palladium Partners Llc Buys Expedia Inc, BlackRock Inc, FedEx Corp, Sells Foot Locker Inc, … (nasdaq.com)
- Reviewing Teledyne Technologies (TDY) and Avnet (NYSE:AVT) (americanbankingnews.com)
- Avnet, Inc. breached its 50 day moving average in a Bearish Manner : AVT-US : July 31, 2017 (finance.yahoo.com)
Shares of Avnet (AVT) traded down 0.18% during trading on Friday, hitting $38.20. The stock had a trading volume of 869,465 shares. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 9.18 and a beta of 1.04. Avnet has a 52-week low of $35.96 and a 52-week high of $51.50. The firm’s 50-day moving average is $38.94 and its 200 day moving average is $42.05.
Several brokerages recently issued reports on AVT. SunTrust Banks, Inc. downgraded Avnet from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $39.00 in a research note on Friday, April 28th. Longbow Research downgraded Avnet from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Citigroup Inc. restated a “sell” rating and set a $31.00 price target on shares of Avnet in a report on Friday, April 28th. Bank of America Corporation cut Avnet from a “neutral” rating to an “underperform” rating and cut their price target for the company from $44.00 to $40.00 in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded Avnet from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the company. Avnet currently has an average rating of “Hold” and an average target price of $42.22.
In related news, CFO Kevin M. Moriarty purchased 6,933 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $36.08 per share, with a total value of $250,142.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James A. Lawrence purchased 408,451 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $36.99 per share, with a total value of $15,108,602.49. Following the acquisition, the director now owns 416,549 shares of the company’s stock, valued at approximately $15,408,147.51. The disclosure for this purchase can be found here. 1.47% of the stock is currently owned by company insiders.
About Avnet
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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