Mirae Asset Global Investments Co. Ltd. Purchases New Position in Arrow Electronics, Inc. (NYSE:ARW)

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arrow Electronics, Inc. (NYSE:ARW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 657 shares of the technology company’s stock, valued at approximately $88,000.

Several other institutional investors have also modified their holdings of ARW. Versant Capital Management Inc increased its position in shares of Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after purchasing an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after acquiring an additional 150 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Arrow Electronics during the first quarter worth approximately $81,000. GAMMA Investing LLC raised its position in Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after purchasing an additional 137 shares during the last quarter. Finally, Quarry LP acquired a new stake in Arrow Electronics during the 2nd quarter worth $107,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Raymond James lowered their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $124.25.

Arrow Electronics Trading Down 1.6 %

Shares of ARW stock opened at $119.13 on Tuesday. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.07. The business’s fifty day moving average price is $131.33 and its 200 day moving average price is $128.22. The firm has a market capitalization of $6.31 billion, a PE ratio of 13.30 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the business earned $4.14 earnings per share. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Arrow Electronics, Inc. will post 10.74 EPS for the current fiscal year.

Arrow Electronics Company Profile

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.