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

Arrow Electronics, Inc. (NYSE:ARW) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, an increase of 5.6% from the September 30th total of 2,330,000 shares. Based on an average daily volume of 380,400 shares, the days-to-cover ratio is presently 6.5 days. Approximately 4.7% of the shares of the stock are short sold.

Institutional Trading of Arrow Electronics

Several large investors have recently added to or reduced their stakes in ARW. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Arrow Electronics by 3.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,816 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 373 shares during the period. State of Michigan Retirement System grew its stake in shares of Arrow Electronics by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 13,175 shares of the technology company’s stock valued at $1,706,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Arrow Electronics by 368.7% during the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company’s stock worth $3,548,000 after buying an additional 21,563 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Arrow Electronics by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock valued at $598,000 after buying an additional 108 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Arrow Electronics by 36.5% in the first quarter. Van ECK Associates Corp now owns 19,574 shares of the technology company’s stock valued at $2,534,000 after acquiring an additional 5,235 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARW has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Truist Financial reduced their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday. Finally, Raymond James raised their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.50.

Arrow Electronics Price Performance

ARW traded up $4.37 on Friday, reaching $123.04. 78,251 shares of the company’s stock were exchanged, compared to its average volume of 464,211. Arrow Electronics has a twelve month low of $108.51 and a twelve month high of $137.80. The stock has a market cap of $6.51 billion, a PE ratio of 11.54 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The stock’s fifty day moving average price is $131.81 and its 200-day moving average price is $128.23.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the previous year, the firm posted $4.14 EPS. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. Sell-side analysts expect that Arrow Electronics will post 10.74 EPS for the current year.

About Arrow Electronics

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.