Arrow Electronics, Inc. (NYSE:ARW) Short Interest Up 6.2% in June

Arrow Electronics, Inc. (NYSE:ARW) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,050,000 shares, an increase of 6.2% from the May 31st total of 1,930,000 shares. Based on an average trading volume of 462,600 shares, the days-to-cover ratio is presently 4.4 days. Currently, 3.9% of the shares of the stock are short sold.

Insiders Place Their Bets

In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the sale, the director now owns 102 shares of the company’s stock, valued at approximately $13,524.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $132.59, for a total value of $396,046.33. Following the completion of the transaction, the director now owns 102 shares in the company, valued at approximately $13,524.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew Charles Kerin sold 1,520 shares of Arrow Electronics stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $131.66, for a total value of $200,123.20. The disclosure for this sale can be found here. Insiders have sold a total of 5,976 shares of company stock valued at $788,183 in the last quarter. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrow Electronics

Institutional investors and hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Arrow Electronics during the 1st quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after acquiring an additional 150 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Arrow Electronics in the 4th quarter worth $56,000. GAMMA Investing LLC bought a new position in shares of Arrow Electronics in the 4th quarter worth $58,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics in the 1st quarter worth $81,000. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Price Performance

ARW opened at $119.58 on Friday. The business has a fifty day moving average of $127.92 and a 200 day moving average of $122.52. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $147.42. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.37 billion, a P/E ratio of 9.40 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04. The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. Arrow Electronics’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.60 EPS. As a group, sell-side analysts anticipate that Arrow Electronics will post 10.37 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group boosted their price objective on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.