Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Avnet Inc. shares valued at $101,748 were sold by Obregon-Jimenez Rebeca on Feb 22 ’24. At $46.04 per share, Obregon-Jimenez Rebeca sold 2,210 shares. The insider’s holdings dropped to 14,281 shares worth approximately $0.69 million following the completion of this transaction.
Also, LAWRENCE JAMES A sold 8,190 shares, netting a total of over 387,387 in proceeds. Following the sale of shares at $47.30 each, the insider now holds 0 shares.
Before that, LAWRENCE JAMES A had sold 6,910 shares from its account. In a trade valued at $329,469, the Director traded Avnet Inc. shares for $47.68 each. Upon closing the transaction, the insider’s holdings decreased to 6,910 shares, worth approximately $0.39 million.
As published in a research note from Wells Fargo on September 16, 2022, Avnet Inc. [AVT] has been rated down from an Equal weight to an Underweight and the price target has been revised to $35 from $45. Analysts at JP Morgan started covering the stock with ‘”an Underweight”‘ outlook in a report released in mid July. As of October 07, 2021, BofA Securities has reiterated its “Neutral” rating for AVT. Earlier on April 30, 2021, Loop Capital upgraded its rating. Their new recommendation was “a Buy” for AVT stock which previously was a “a Hold”.
Analyzing AVT Stock Performance
During the last five days, there has been a drop of approximately -2.38%. Over the course of the year, Avnet Inc. shares have dropped approximately -4.62%. Shares of the company reached a 52-week high of $50.85 on 04/29/24 and a 52-week low of $43.62 on 02/08/24. A 50-day SMA is recorded $47.74, while a 200-day SMA reached $47.55. Nevertheless, trading volume fell to 1.12 million shares from 1.62 million shares the previous day.
Support And Resistance Levels for Avnet Inc. (AVT)
According to the 24-hour chart, there is a support level at 46.66, which, if violated, would cause prices to drop to 45.25. In the upper region, resistance lies at 49.42. The next price resistance is at 50.77. RSI (Relative Strength Index) is 48.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.90, which suggests the price will decrease in the coming days. Percent R is at 60.30%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
