So Far This Year, Avnet Inc. (AVT) Reached A New High 5 times


As of Wednesday close, Avnet Inc.’s (NASDAQ:AVT) stock was up $0.36, moving up 0.80 percent to $45.21. The average number of shares traded per day over the past five days has been 487,700 shares. 5 times new highs have been achieved over the past 5 days, with a $0.94 gain in that time frame. In the last twenty days, the average volume was 701,925, while in the previous 50 days, it was 805,754.

Since last month, AVT stock rose 11.99%. Shares of the company fell to $38.30 on 10/27/22, the lowest level in the past month. A 52-week high of $50.19 was reached on 06/06/22 after having rallying from a 52-week low of $35.45. Since the beginning of this year, AVT’s stock price has risen by 9.65% or $3.98, and marked a new high 18 times. However, the stock has declined by -9.92% since its 52-week high.

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AVT stock investors should be aware that Avnet Inc. (AVT) stock had its last reported insider trading activity 98 days ago on Aug 18. Liguori Thomas, the Chief Financial Officer of the company, disposed of 24,221 shares for $45.03 on Aug 18. It resulted in a $1,090,623 divestment by the insider. Liguori Thomas sold 24,221 shares at an average price of $43.92 on Aug 17. The insider now owns 54,287 shares following the transaction. On Aug 16, Chief Financial Officer Liguori Thomas sold 20,161 shares at $44.73 apiece. The transaction was valued at $901,701.

Valuation Metrics

Right now, Avnet Inc. (AVT) has a P/E ratio of about 5.81. The stock’s beta is 1.34. Besides these, the trailing price-to-sales (P/S) ratio of 0.16, the price-to-book (PB) ratio of 1.06.

The latest dividend of $0.29 per share was paid out, remained unchanged from last year’s $0.29. On Wednesday August 31 2022, a $0.03 dividend increase was announced.

Financial Health

In the three months ended September 29, Avnet Inc.’s quick ratio stood at 1.00, while its current ratio was 2.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.45, and the total debt-to-equity ratio was 0.58. On the profitability front, the trailing twelve-month gross margin is 12.10% percent. In the year ended September 29, operating margins totaled 4.20%. Based on annual data, AVT earned $2.97 billion in gross profit and brought in $24.31 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 13.70%. Return on equity (ROE) for the past 12 months was 18.40%.

In Avnet Inc.’s quarter-end financial report for September 29, it reported total debt of $1.14 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. AVT’s revenue rose 17.27% to $6.37 billion during the quarter, while net income inched up to $6.75 billion. While analysts expected Avnet Inc. to report $1.91 quarterly earnings, the actual figure was $2 per share, beating the consensus estimate by 4.70%. During the quarter, the company generated $326.07 million in EBITDA. The liabilities of Avnet Inc. were 6.95 billion at the end of its most recent quarter ended September 29, and its total debt was $2.59 billion. The value of shareholders’ equity is $91.52 million.

Technical Picture

This quick technical analysis looks at Avnet Inc.’s (AVT) price momentum. With a historical volatility rate of 19.72%, the RSI 9-day stood at 71.32% on 23 November.

With respect to its five-day moving average, the current Avnet Inc. price is up by +2.12% percent or $0.94. At present, AVT shares trade +11.63% above its 20-day simple moving average and +8.13% percent above its 100-day simple moving average. However, the stock is currently trading approximately +12.60% above its SMA50 and +9.76% above its SMA200.

Stochastic coefficient K was 87.39% and Stochastic coefficient D was 82.91%, while ATR was 1.05. Given the Stochastic reading of 92.91% for the 14-day period, the RSI (14) reading has been calculated as 67.91%. As of today, the MACD Oscillator reading stands at 0.28, while the 14-day reading stands at 1.09.

Analyst Ratings

Avnet Inc. downgraded its rating on Avnet Inc. (NASDAQ: AVT) to an Underweight in a note to investors on September 16, 2022. The analysts firm previously had an Equal weight rating on the stock.


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