Fmr LLC Sells 30,959 Shares of AVX Co. (AVX)

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Fmr LLC trimmed its holdings in shares of AVX Co. (NYSE:AVX) by 11.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 240,872 shares of the electronics maker’s stock after selling 30,959 shares during the quarter. Fmr LLC’s holdings in AVX were worth $3,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of AVX during the 1st quarter valued at about $156,000. Verition Fund Management LLC purchased a new stake in shares of AVX during the 1st quarter valued at about $191,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AVX during the 1st quarter valued at about $207,000. A.R.T. Advisors LLC purchased a new stake in shares of AVX during the 1st quarter valued at about $219,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of AVX during the 1st quarter valued at about $226,000. Hedge funds and other institutional investors own 24.50% of the company’s stock.

Shares of NYSE AVX opened at $16.47 on Friday. The stock has a market cap of $3.05 billion, a PE ratio of 20.66 and a beta of 1.06. AVX Co. has a 12-month low of $14.51 and a 12-month high of $21.48.

AVX (NYSE:AVX) last posted its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.15. AVX had a net margin of 1.74% and a return on equity of 7.12%. The company had revenue of $454.12 million for the quarter, compared to analyst estimates of $412.40 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AVX Co. will post 1.29 earnings per share for the current fiscal year.

In related news, VP Willing King sold 10,000 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president now directly owns 14,752 shares of the company’s stock, valued at approximately $308,906.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt P. Cummings sold 60,000 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $18.87, for a total transaction of $1,132,200.00. Following the completion of the sale, the chief financial officer now directly owns 22,812 shares in the company, valued at $430,462.44. The disclosure for this sale can be found here. Insiders sold a total of 101,086 shares of company stock worth $1,957,042 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on AVX. Zacks Investment Research upgraded shares of AVX from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Monday, July 30th. Stifel Nicolaus upped their target price on shares of AVX from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. ValuEngine cut shares of AVX from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Finally, Citigroup upgraded shares of AVX from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 3rd.

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.

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Institutional Ownership by Quarter for AVX (NYSE:AVX)

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