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

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, a growth of 5.6% from the September 30th total of 2,330,000 shares. Currently, 4.7% of the company’s shares are short sold. Based on an average trading volume of 380,400 shares, the days-to-cover ratio is presently 6.5 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Arrow Electronics during the first quarter worth approximately $682,000. State Board of Administration of Florida Retirement System raised its stake in shares of Arrow Electronics by 20.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company’s stock valued at $7,404,000 after buying an additional 10,083 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Arrow Electronics by 128.9% in the first quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company’s stock worth $4,570,000 after purchasing an additional 19,880 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Arrow Electronics by 6.8% during the 1st quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company’s stock worth $12,456,000 after buying an additional 6,157 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Arrow Electronics by 368.7% in the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company’s stock valued at $3,548,000 after purchasing an additional 21,563 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Arrow Electronics Price Performance

Shares of NYSE:ARW opened at $121.08 on Friday. Arrow Electronics has a 12 month low of $108.51 and a 12 month high of $137.80. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 11.41 and a beta of 1.26. The stock’s 50 day moving average price is $131.57 and its 200 day moving average price is $128.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm’s revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.14 earnings per share. Equities research analysts anticipate that Arrow Electronics will post 10.74 earnings per share 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.