Sunday, September 20, 2020

Avnet Inc. [AVT] fell -32.02% so far this year. What now?

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Avnet Inc. [NASDAQ: AVT] loss -0.28% or -0.08 points to close at $28.85 with a heavy trading volume of 1051058 shares. The company report on August 25, 2020 that Avnet Introduces Monarch Go Pi HAT for Simple, Cost-Effective Connectivity.

New development kit provides engineers with end-customer, certified LTE connectivity for IoT applications on Raspberry Pi HAT expansion-capable devices .

Leading global technology solutions provider Avnet (Nasdaq: AVT) today introduced the Monarch Go Pi HAT*, a new development kit to help product engineers and network developers enable simple, cost-effective LTE connectivity for IoT solutions. Utilizing the Monarch Go LTE-M modem component from Sequans (NYSE: SQNS), the new solution is ideal for use in business-critical applications, including asset tracking and remote monitoring.

It opened the trading session at $29.39, the shares rose to $29.99 and dropped to $28.72, the range by which the price of stock traded the whole day. The daily chart for AVT points out that the company has recorded -4.47% loss over the past six months. However, it is still -61.62% lower than its most recent low trading price.

If we look at the average trading volume of 938.25K shares, AVT reached to a volume of 1051058 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Avnet Inc. [AVT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVT shares is $30.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVT stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Longbow have made an estimate for Avnet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 03, 2020. The new note on the price target was released on April 28, 2020, representing the official price target for Avnet Inc. stock. Previously, the target price had yet another raise to $30, while Loop Capital analysts kept a Hold rating on AVT stock. On March 19, 2020, analysts decreased their price target for AVT shares from 28 to 22.

The Average True Range (ATR) for Avnet Inc. is set at 0.93, with the Price to Sales ratio for AVT stock in the period of the last 12 months amounting to 0.16. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 4.95. Price to Free Cash Flow for AVT in the course of the last twelve months was 4.86 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for AVT stock

Avnet Inc. [AVT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.10. With this latest performance, AVT shares dropped by -0.31% in over the last four-week period, additionally sinking by -4.47% over the last 6 months – not to mention a drop of -34.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVT stock in for the last two-week period is set at 59.58, with the RSI for the last a single of trading hit 62.85, and the three-weeks RSI is set at 56.65 for Avnet Inc. [AVT]. The present Moving Average for the last 50 days of trading for this stock 27.22, while it was recorded at 28.22 for the last single week of trading, and 31.60 for the last 200 days.

Avnet Inc. [AVT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Avnet Inc. [AVT] shares currently have an operating margin of +1.26 and a Gross Margin at +11.70. Avnet Inc.’s Net Margin is presently recorded at -0.17.

Return on Equity for this stock declined to -0.75, with Return on Assets sitting at -0.35.

Avnet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.80.

Avnet Inc. [AVT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Avnet Inc. posted 0.6/share EPS, while the average EPS was predicted by analysts to be reported at 0.65/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Avnet Inc. go to 10.40%.

An analysis of insider ownership at Avnet Inc. [AVT]

There are presently around $2,751 million, or 99.90% of AVT stock, in the hands of institutional investors. The top three institutional holders of AVT stocks are: VANGUARD GROUP INC with ownership of 11,216,397, which is approximately -1.454% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 10,959,195 shares of the stock with an approximate value of $316.17 million in AVT stocks shares; and PZENA INVESTMENT MANAGEMENT LLC, currently with $297.13 million in AVT stock with ownership of nearly 13.971% of the company’s market capitalization.

Positions in Avnet Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 141 institutional holders increased their position in Avnet Inc. [NASDAQ:AVT] by around 12,023,385 shares. Additionally, 158 investors decreased positions by around 12,299,061 shares, while 30 investors held positions by with 71,046,584 shares. The mentioned changes placed institutional holdings at 95,369,030 shares, according to the latest SEC report filing. AVT stock had 39 new institutional investments in for a total of 2,277,668 shares, while 45 institutional investors sold positions of 2,066,986 shares during the same period.

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