Royce Associates Lp Lowers stake in AVX Corporation (AVX)

AVX Corporation (AVX) : Royce Associates Lp reduced its stake in AVX Corporation by 15.77% during the most recent quarter end. The investment management company now holds a total of 10,899,262 shares of AVX Corporation which is valued at $139.3 Million after selling 2,039,897 shares in AVX Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.AVX Corporation makes up approximately 0.90% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc sold out all of its stake in AVX during the most recent quarter. The investment firm sold 10,874 shares of AVX which is valued $138,970.Norges Bank boosted its stake in AVX in the latest quarter, The investment management firm added 334,346 additional shares and now holds a total of 952,941 shares of AVX Corporation which is valued at $12.2 Million. AVX Corporation makes up approx 0.01% of Norges Bank’s portfolio.Rhumbline Advisers boosted its stake in AVX in the latest quarter, The investment management firm added 8,095 additional shares and now holds a total of 73,026 shares of AVX Corporation which is valued at $944,226. Parkwood added AVX to its portfolio by purchasing 22,167 company shares during the most recent quarter which is valued at $286,619. AVX Corporation makes up approx 0.05% of Parkwood’s portfolio.

AVX Corporation opened for trading at $12.8 and hit $13.07 on the upside on Monday, eventually ending the session at $13.03, with a gain of 1.96% or 0.25 points. The heightened volatility saw the trading volume jump to 1,04,576 shares. Company has a market cap of $2,183 M.

On the company’s financial health, AVX Corporation reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.16. The company had revenue of $303.61 million for the quarter, compared to analysts expectations of $296.00 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.

AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components interconnect devices and related products. AVX operates in three segments: Passive Components Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists primarily of surface mount and leaded ceramic capacitors radio frequency (RF) thick and thin film components surface mount and leaded tantalum capacitors surface mount and leaded film capacitors ceramic and film power capacitors among others. The KED Resale segment consists primarily of ceramic capacitors frequency control devices surface acoustic wave (SAW) devices sensor products RF modules actuators acoustic devices and connectors produced by Kyocera Corporation and resold by AVX. The Interconnect segment consists primarily of AVX Interconnect automotive telecom and memory connectors manufactured by or for AVX.

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