Short Interest in AVX Co. (NYSE:AVX) Expands By 28.8%

AVX Co. (NYSE:AVX) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,223,900 shares, a growth of 28.8% from the June 30th total of 1,727,000 shares. Currently, 4.8% of the shares of the company are sold short. Based on an average daily trading volume, of 274,500 shares, the short-interest ratio is presently 8.1 days.

Large investors have recently added to or reduced their stakes in the stock. Investors Research Corp bought a new stake in AVX in the first quarter worth $29,000. PNC Financial Services Group Inc. grew its holdings in shares of AVX by 1,007.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,717 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 1,562 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of AVX by 117.8% during the fourth quarter. Advisor Group Inc. now owns 2,428 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 1,313 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of AVX during the first quarter worth about $49,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of AVX during the first quarter worth about $107,000. Institutional investors own 25.06% of the company’s stock.

A number of brokerages have recently weighed in on AVX. Zacks Investment Research lowered shares of AVX from a “hold” rating to a “sell” rating in a research note on Monday, July 15th. ValuEngine cut shares of AVX from a “hold” rating to a “sell” rating in a research report on Saturday.

AVX traded down $0.31 during midday trading on Monday, hitting $14.20. The company had a trading volume of 225,051 shares, compared to its average volume of 324,634. The company has a market capitalization of $2.47 billion, a P/E ratio of 8.82 and a beta of 1.16. AVX has a twelve month low of $14.18 and a twelve month high of $21.29. The firm has a 50-day moving average price of $15.89.

AVX (NYSE:AVX) last released its quarterly earnings data on Friday, July 26th. The electronics maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $402.00 million for the quarter, compared to analyst estimates of $418.90 million. AVX had a net margin of 15.55% and a return on equity of 11.45%. AVX’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. As a group, analysts anticipate that AVX will post 1.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.46 dividend on an annualized basis and a yield of 3.24%. AVX’s payout ratio is 28.57%.

AVX Company Profile

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.

Further Reading: How much can an individual set aside as a catch-up contribution?

Receive News & Ratings for AVX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AVX and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit