Royce Associates Lp Lowers stake in AVX Corporation (AVX)

AVX Corporation (AVX) : Royce Associates Lp reduced its stake in AVX Corporation by 5.4% during the most recent quarter end. The investment management company now holds a total of 10,310,476 shares of AVX Corporation which is valued at $141,253,521 after selling 588,786 shares in AVX Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.AVX Corporation makes up approximately 0.88% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , Moors Cabot boosted its stake in AVX in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 49,248 shares of AVX Corporation which is valued at $674,698. AVX Corporation makes up approx 0.12% of Moors Cabot’s portfolio. Plante Moran Financial Advisors added AVX to its portfolio by purchasing 168 company shares during the most recent quarter which is valued at $2,260. Quantitative Systematic Strategies sold out all of its stake in AVX during the most recent quarter. The investment firm sold 10,519 shares of AVX which is valued $143,690.

AVX Corporation opened for trading at $13.94 and hit $13.94 on the upside on Monday, eventually ending the session at $13.86, with a gain of 0.58% or 0.08 points. The heightened volatility saw the trading volume jump to 1,77,954 shares. Company has a market cap of $2,321 M.

On the company’s financial health, AVX Corporation reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.18. The company had revenue of $314.82 million for the quarter, compared to analysts expectations of $310.80 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 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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