Sequoia Financial Advisors LLC Takes $317,000 Position in Arrow Electronics, Inc. (NYSE:ARW)

Sequoia Financial Advisors LLC bought a new stake in Arrow Electronics, Inc. (NYSE:ARW) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,383 shares of the technology company’s stock, valued at approximately $317,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Arrow Electronics by 0.3% in the second quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock valued at $3,421,000 after acquiring an additional 82 shares during the last quarter. Two Point Capital Management Inc. boosted its holdings in Arrow Electronics by 0.4% in the second quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock valued at $2,606,000 after acquiring an additional 95 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Arrow Electronics by 1.7% in the first quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock valued at $806,000 after acquiring an additional 107 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Arrow Electronics by 2.4% in the first quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock valued at $598,000 after acquiring an additional 108 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Arrow Electronics by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock valued at $626,000 after acquiring an additional 117 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARW has been the topic of several recent research reports. Raymond James raised their price target on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Finally, Truist Financial raised their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Arrow Electronics has an average rating of “Hold” and an average target price of $130.75.

Arrow Electronics Price Performance

Shares of ARW opened at $133.82 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Arrow Electronics, Inc. has a 1 year low of $108.51 and a 1 year high of $137.39. The stock has a market cap of $7.12 billion, a P/E ratio of 10.52 and a beta of 1.26. The stock’s 50-day moving average price is $131.62 and its two-hundred day moving average price is $128.10.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. The firm had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company’s revenue was down 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.37 earnings per share. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

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.