Avnet (AVT): Price Target and June Short Interest Disclosure

Avnet (AVT) : The highest level Avnet (AVT) is projected to reach is $47 for the short term and the lowest estimate is at $42. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $43.4 and the possibility the share price can swing is $2.07.

Avnet (AVT), A reduction of 150,003 shares or 3.8% was observed in the short interest of Avnet The interest on June 30,2016 came in at 3,803,390 shares and as per the average daily trading of 1,005,284 shares, the days to cover are 4. The reduced interest is 3% of the floated shares. The data of June 15,2016 put the interest at 3,953,393 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Goldman Sachs upgrades its rating on Avnet (NYSE:AVT). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Sell by the brokerage firm. The Analysts at Goldman Sachs raises the price target from $39 per share to $41 per share. The rating by the firm was issued on June 7, 2016.


Avnet (NYSE:AVT): stock turned positive on Thursday. Though the stock opened at $39.91, the bulls momentum made the stock top out at $40.2 level for the day. The stock recorded a low of $39.57 and closed the trading day at $40.08, in the green by 1.19%. The total traded volume for the day was 1,935,164. The stock had closed at $39.61 in the previous days trading.

Avnet, Inc. distributes electronic components, enterprise computer and storage products, information technology solutions and services, and embedded subsystems. The Company operates in two segments: Electronics Marketing (EM) and Technology Solutions (TS). Both operating groups have operations in each of the three economic regions of the world: the Americas; Europe, the Middle East and Africa; and Asia/Pacific, consisting of Asia, Australia and New Zealand. The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices, and embedded products to a diverse customer base serving many end-markets. The TS segment focuses on the distribution of enterprise computing servers and systems, software, storage, services and complex solutions from the technology manufacturers. The TS segment also provides hard disk drives, microprocessor, motherboard and dynamic random-access memory module technologies to manufacturers of computers and system builders.

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