Short Interest in Arrow Electronics, Inc. (NYSE:ARW) Increases By 7.3%

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

Institutional Investors Weigh In On Arrow Electronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in shares of Arrow Electronics during the 3rd quarter worth $31,000. Brooklyn Investment Group bought a new position in Arrow Electronics in the third quarter valued at about $40,000. Capital Performance Advisors LLP acquired a new position in Arrow Electronics during the third quarter worth about $73,000. DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics in the third quarter worth about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics in the 3rd quarter valued at approximately $88,000. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Price Performance

Shares of NYSE ARW traded up $1.66 during mid-day trading 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. The business’s 50-day simple moving average is $116.54 and its 200 day simple moving average is $124.04. Arrow Electronics has a one year low of $108.51 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

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

Wall Street Analysts Forecast Growth

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