Philip R. Gallagher, chief executive officer of Avnet (NASDAQ: AVT), executed a pair of transactions on February 24, 2026, that saw him reduce his direct stake while simultaneously increasing his holdings through option exercises.
Gallagher sold 46,068 shares of Avnet common stock at $67.42 per share, generating approximately $3.1 million in proceeds. The sale price was marginally below the stock's 52-week high of $68.29, and it took place against the backdrop of a strong rally in the shares, which have returned roughly 40% year-to-date.
On the same trading day, Gallagher exercised options to acquire an equal number of shares - a total of 46,068 Avnet common shares. That exercise comprised two tranches: 25,068 shares acquired at an exercise price of $36.80, and 21,000 shares acquired at an exercise price of $29.38. The aggregate value of the shares obtained via these option exercises amounted to $1,539,482.
Following these transactions, Gallagher's direct ownership in Avnet stands at 168,923 shares. He also retains indirect ownership of 209,531 shares through the Gallagher Family Trust. In addition to the shares he owns, Gallagher holds options that permit purchase of 269,072 shares of Avnet common stock.
The timing of Gallagher's transactions coincides with recent operational results that have attracted attention. Avnet reported results for the second quarter of fiscal 2026 that exceeded consensus expectations. The company posted earnings per share of $1.05, ahead of the $0.95 analysts had forecast, and reported revenue of $6.3 billion versus the $6.02 billion estimate. Those results have been reflected in trading activity, with the stock registering a notable uptick in pre-market trading.
Third-party analysis cited alongside these developments indicates that, despite the pronounced rally, some assessments still view the stock as undervalued at current levels. Market participants and analysts are monitoring Avnet closely in light of the quarter's performance and the recent insider transactions.
Summary
Avnet's CEO sold 46,068 shares for about $3.1 million on February 24, 2026, while exercising options to buy the same number of shares. The company recently beat earnings and revenue expectations for Q2 fiscal 2026, and its shares have gained approximately 40% so far this year.
Key points
- CEO Philip R. Gallagher sold 46,068 shares at $67.42 on February 24, 2026, for roughly $3.1 million.
- He exercised options to acquire 46,068 shares the same day: 25,068 at $36.80 and 21,000 at $29.38, with the exercises valued at $1,539,482.
- Avnet reported Q2 fiscal 2026 results with EPS of $1.05 versus $0.95 expected and revenue of $6.3 billion versus $6.02 billion expected; shares are up ~40% year-to-date.
Risks and uncertainties
- Insider selling can be interpreted in multiple ways and may introduce uncertainty for investors assessing management conviction.
- Stock price volatility remains a factor: Gallagher's sale occurred just below the 52-week high, and recent pre-market moves show sensitivity to quarterly results.
- Analyst and market reassessments of valuation could change as new information emerges; current third-party analysis cited still regards the stock as undervalued, but views may shift.
This report compiles the transactions, ownership figures and the company's reported quarterly performance as disclosed. It presents the facts of the trades, the resulting ownership positions and the key financial metrics announced for the quarter.