Short Interest in Arrow Electronics, Inc. (NYSE:ARW) Declines By 5.7%

Arrow Electronics, Inc. (NYSE:ARW) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,500,000 shares, a decrease of 5.7% from the October 31st total of 2,650,000 shares. Based on an average daily volume of 399,000 shares, the days-to-cover ratio is presently 6.3 days. Currently, 4.8% of the shares of the stock are short sold.

Arrow Electronics Price Performance

ARW opened at $121.29 on Wednesday. The company has a fifty day moving average price of $126.31 and a two-hundred day moving average price of $126.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The firm has a market capitalization of $6.38 billion, a PE ratio of 13.54 and a beta of 1.26. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 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 business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the company posted $4.14 earnings per share. The firm’s revenue was down 14.8% on a year-over-year basis. As a group, analysts anticipate that Arrow Electronics will post 10.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Raymond James cut their price target on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $124.25.

Institutional Trading of Arrow Electronics

A number of large investors have recently made changes to their positions in ARW. Dimensional Fund Advisors LP grew its stake in Arrow Electronics by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after acquiring an additional 325,122 shares during the period. Pacer Advisors Inc. grew its stake in shares of Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after acquiring an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. raised its holdings in shares of Arrow Electronics by 1.7% in the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock valued at $227,377,000 after purchasing an additional 32,052 shares during the last quarter. Cooke & Bieler LP boosted its holdings in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after purchasing an additional 56,781 shares during the last quarter. Finally, State Street Corp grew its position in Arrow Electronics by 0.3% in the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock valued at $224,442,000 after purchasing an additional 4,811 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

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.