GuruFocus - On June 12, 2024, Ken Arnold, Senior Vice President and Chief People Officer of Avnet Inc (NASDAQ:AVT), sold 8,000 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 40,239 shares of Avnet Inc.
Avnet Inc, a global distributor of electronic components and embedded solutions, has seen a pattern of insider sales over the past year, with 7 insider sales and no insider buys. This latest transaction by Ken Arnold continues this trend of insider sales.
Shares of Avnet Inc were trading at $54.34 on the day of the sale. The company has a market cap of approximately $4.83 billion. Avnet's price-earnings ratio stands at 8.65, which is lower than the industry median of 23.83 and also below the companys historical median.
According to the GF Value, the intrinsic value of Avnet Inc is estimated at $46.02 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.18.
The GF Value is calculated considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider might be of interest to current and potential investors, as it reflects the insider's actions in the context of the company's current valuation and stock performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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