Arrow Electronics, Inc. (NYSE:ARW) Short Interest Update

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,500,000 shares, a drop of 5.7% from the October 31st total of 2,650,000 shares. Approximately 4.8% of the company’s shares are sold short. Based on an average trading volume of 399,000 shares, the short-interest ratio is currently 6.3 days.

Hedge Funds Weigh In On Arrow Electronics

A number of institutional investors and hedge funds have recently modified their holdings of ARW. True Wealth Design LLC acquired a new position in shares of Arrow Electronics during the 3rd quarter valued at $31,000. Versant Capital Management Inc raised its holdings 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 valued at $40,000 after purchasing an additional 294 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Arrow Electronics in the 3rd quarter valued at about $40,000. Capital Performance Advisors LLP bought a new stake in Arrow Electronics in the 3rd quarter valued at about $73,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics during the 3rd quarter worth approximately $78,000. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $122.60 on Tuesday. The company has a market capitalization of $6.45 billion, a PE ratio of 13.68 and a beta of 1.27. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics has a twelve month low of $108.51 and a twelve month high of $137.80. The firm has a fifty day simple moving average of $126.54 and a 200 day simple moving average of $127.03.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the business earned $4.14 EPS. The firm’s revenue was down 14.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arrow Electronics will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARW. Raymond James decreased their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial decreased their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Arrow Electronics presently has a consensus rating of “Hold” and a consensus target price of $124.25.

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.