Avnet Inc. (AVT, Financial) experienced a significant stock movement with a 5.01% decline. The stock price settled at $54.80 per share with a trading volume of 614,254 shares, a turnover rate of 0.70%, and a price fluctuation of 4.44%.
Recent financial reports indicate Avnet achieved a revenue of $23.757 billion and a net profit of $499 million, translating to an earnings per share of $5.51. The company's gross profit amounted to $2.766 billion, resulting in a price-to-earnings ratio of 14.27. Among nine institutions rating the stock, 11% suggested buying, 67% recommended holding, and 22% advised selling.
Within the electronic components distribution sector, which saw an overall decline of 7.03%, some stocks performed positively. In particular, PAX Global Technology, Taitron Components Incorporated, and New Concepts Inc. showed notable gains. Active stocks with significant turnover included Arrow Electronics, Insight Enterprises, Inc., and Climb Global Solutions, Inc., with turnover rates of 1.27%, 1.06%, and 0.89% respectively. Stocks with substantial price volatility included Climb Global Solutions, Inc. (16.34%), Insight Enterprises, Inc. (8.80%), and Arrow Electronics (5.43%).
Avnet is a global distributor of electronic components, connecting semiconductor and component suppliers with 2.1 million customers in 140 countries. As the third-largest semiconductor distributor worldwide and Europe's largest chip distributor, Avnet provides services across electronic design and development, offering tools, test kits, and services to engineers, and large-scale distribution for final designs.
