Wells Fargo analyst Joseph Quatrochi maintained a Hold rating on Avnet (AVT) yesterday. The company’s shares closed last Thursday at $28.92.
According to TipRanks.com, Quatrochi is a 4-star analyst with an average return of 36.1% and a 85.7% success rate. Quatrochi covers the Technology sector, focusing on stocks such as MKS Instruments, Lam Research, and Kla-Tencor.
Currently, the analyst consensus on Avnet is a Moderate Sell with an average price target of $25.00.
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Based on Avnet’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.31 billion and GAAP net loss of $129 million. In comparison, last year the company earned revenue of $4.7 billion and had a net profit of $88.05 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVT in relation to earlier this year. Most recently, in May 2020, Maryann Miller, the SVP, Chief Admin Officer of AVT sold 11,456 shares for a total of $332,224.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Avnet, Inc. engages in the distribution and sale of electronic components. It operates through the Electronics Components and Farnell segments. The Electronics Components segment markets and sells semiconductors, interconnect, passive and electromechanical devices, and integrated components. The Farnell segment involves in the distribution of electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources. The company was founded by Charles Avnet in 1921 and is headquartered in Phoenix, AZ.
