Arrow Electronics (NYSE:ARW) Reaches New 1-Year Low – Here’s Why

Shares of Arrow Electronics, Inc. (NYSE:ARW) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $103.33 and last traded at $103.62, with a volume of 53889 shares trading hands. The stock had previously closed at $104.62.

Wall Street Analysts Forecast Growth

ARW has been the subject of several analyst reports. Bank of America downgraded shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Price Performance

The company has a market capitalization of $5.46 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average is $111.47 and its two-hundred day moving average is $120.31.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. As a group, analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current year.

Insider Activity

In other Arrow Electronics news, Director William F. Austen acquired 1,900 shares of the stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the acquisition, the director now owns 7,858 shares in the company, valued at $818,174.96. The trade was a 31.89 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Yun Sung Cho sold 353 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the completion of the sale, the chief accounting officer now owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. The trade was a 18.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Arrow Electronics

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Arrow Electronics by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,930,459 shares of the technology company’s stock worth $331,493,000 after purchasing an additional 91,310 shares during the period. Boston Partners increased its stake in Arrow Electronics by 14.8% during the 4th quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after purchasing an additional 318,329 shares in the last quarter. Pacer Advisors Inc. increased its stake in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares in the last quarter. Greenhaven Associates Inc. grew its stake in shares of Arrow Electronics by 1.1% in the fourth quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock worth $215,477,000 after acquiring an additional 20,484 shares during the period. Finally, State Street Corp grew its stake in shares of Arrow Electronics by 0.3% in the third quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after acquiring an additional 4,811 shares during the period. Hedge funds and other 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.