A substantial insider sell was reported on May 30, by PHILIP GALLAGHER, Chief Executive Officer at Avnet (NASDAQ:AVT), based on the recent SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Thursday outlined that GALLAGHER executed a sale of 30,000 shares of Avnet with a total value of $1,612,200.
At Friday morning, Avnet shares are down by 0.0%, trading at $54.58.
About Avnet
Avnet Inc is a global distributor of electronic components, connecting suppliers of semiconductors and other components to a base of 2.1 million small- and mid-sized customers in 140 countries. Avnet is the third largest semiconductor distributor in the world, and the largest for European chip distribution. Avnet services all levels of electronics design and development, servicing engineers with design tools, test kits, and services alongside its high-volume distribution for final designs.
Breaking Down Avnet's Financial Performance
Revenue Challenges: Avnet's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -13.22%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth ...