Arrow Electronics, Inc. (NYSE:ARW) Sees Significant Growth in Short Interest

Arrow Electronics, Inc. (NYSE:ARW) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,950,000 shares, a growth of 7.3% from the December 15th total of 2,750,000 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 409,800 shares, the short-interest ratio is presently 7.2 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ARW shares. Raymond James cut their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company dropped their target price on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Finally, Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st.

Arrow Electronics Trading Up 1.4 %

NYSE ARW traded up $1.66 on Monday, reaching $116.63. The company had a trading volume of 348,861 shares, compared to its average volume of 384,812. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 13.02 and a beta of 1.26. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The business has a 50 day moving average of $116.54 and a two-hundred day moving average of $124.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09.

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

Institutional Investors Weigh In On Arrow Electronics

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after acquiring an additional 876,396 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Arrow Electronics by 1,072.6% in the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock valued at $5,564,000 after purchasing an additional 37,746 shares during the period. Cerity Partners LLC boosted its position in shares of Arrow Electronics by 140.4% during the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock valued at $1,598,000 after purchasing an additional 7,028 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Arrow Electronics during the second quarter worth approximately $1,267,000. Finally, JPMorgan Chase & Co. increased its holdings in Arrow Electronics by 115.0% in the third quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after purchasing an additional 168,904 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

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.