Director James Lawrence Sells 3,642 Shares of Avnet Inc (AVT)
On August 29, 2024, James Lawrence, a Director at Avnet Inc (NASDAQ:AVT), sold 3,642 shares of the company, according to a recent SEC Filing. Following this transaction, the insider now owns 0 shares of Avnet Inc.
Avnet Inc, a major distributor of electronic components and embedded solutions, operates globally, providing a vital link in the technology supply chain. The company's offerings range from design and supply chain services to programming, component sourcing, and logistics.
Over the past year, the insider has sold a total of 18,742 shares of Avnet Inc and has not made any purchases. This recent sale is part of a broader trend observed within the company, where there have been 10 insider sells and no insider buys over the past year.
On the day of the sale, shares of Avnet Inc were trading at $54.83. This pricing gives the company a market cap of approximately $4.83 billion. The price-earnings ratio of Avnet Inc stands at 10.13, which is below both the industry median of 21.805 and the company's historical median.
According to the GF Value, an intrinsic value estimate used by GuruFocus, Avnet Inc is currently modestly overvalued with a price-to-GF-Value ratio of 1.21. The GF Value of $45.33 is calculated based on historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
This transaction comes at a time when Avnet Inc's valuation metrics, such as the price-sales ratio, price-book ratio, and price-to-free cash flow, reflect a market sentiment that is cautious yet attentive to the company's financial health and market position.
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This article first appeared on GuruFocus.