Sell: AVX Corporation (AVX)
From The Prudent Speculator
Updated from Wall Street’s Best Dividend Stocks 309, June 13, 2018
Shares of AVX Corporation (AVX) jumped more than 36% in price today after press release and subsequent SEC filing revealed that Japanese electronics giant Kyocera Corp. offered to buy the remaining 28% of the electronic components maker that it doesn’t already own at a price of $19.50 per share. Certainly, the premium from Tuesday’s closing price was great, but it was curious to see shares trading a dollar or so above the offer price. We decided that the one-day gain, which pushed AVX above our published 3-to 5-year Target Price of $20, warranted a sale of our shares.
John Buckingham, The Prudent Speculator, www.theprudentspeculator.com, 877-817-4394, November 27, 2019