Avnet (AVT) Shares are Up 1.51%

Avnet (AVT) has been under a strong bear grip, hence the stock is down -1.29% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.34% in the past 1 week. The stock has risen by 1.51% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.82% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 1.04% and the 50-Day Moving Average is 0.47%.The 200 Day SMA reached 0%

Avnet

Avnet (NYSE:AVT): After opening at $40.99, the stock dipped to an intraday low of $40.75 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $41.21 and the buying power remained strong till the end. The stock closed at $41.06 for the day, a gain of 1.16% for the day session. The total traded volume was 813,122. The stocks close on the previous trading day was $41.06.

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 $43.6 and the possibility the share price can swing is $2.07.

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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