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

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,350,000 shares, a decrease of 6.0% from the November 15th total of 2,500,000 shares. Based on an average daily volume of 397,300 shares, the days-to-cover ratio is presently 5.9 days. Currently, 4.5% of the company’s shares are sold short.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock opened at $117.92 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.20 billion, a PE ratio of 13.16 and a beta of 1.26. The business has a 50 day moving average of $124.35 and a 200 day moving average of $126.30. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $137.80.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating 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 for the quarter 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. As a group, equities research analysts forecast that Arrow Electronics will post 10.23 earnings per share for the current year.

Hedge Funds Weigh In On Arrow Electronics

A number of institutional investors have recently added to or reduced their stakes in ARW. Pacer Advisors Inc. raised its holdings in Arrow Electronics by 9,044.0% in the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. FMR LLC raised its holdings in Arrow Electronics by 371.1% in the third quarter. FMR LLC now owns 434,905 shares of the technology company’s stock worth $57,768,000 after purchasing an additional 342,590 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $331,353,000 after purchasing an additional 325,122 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Arrow Electronics by 220.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock worth $19,859,000 after purchasing an additional 102,854 shares in the last quarter. Finally, Martingale Asset Management L P raised its holdings in Arrow Electronics by 3,768.6% in the third quarter. Martingale Asset Management L P now owns 83,290 shares of the technology company’s stock worth $11,063,000 after purchasing an additional 81,137 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARW. Truist Financial dropped 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, November 1st. Raymond James decreased their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

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.