Arrow Electronics, Inc. (NYSE:ARW) Short Interest Down 5.7% in November

Arrow Electronics, Inc. (NYSE:ARW - Get Free Report) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,500,000 shares, a decline of 5.7% from the October 31st total of 2,650,000 shares. Currently, 4.8% of the shares of the stock are sold short. Based on an average trading volume of 399,000 shares, the days-to-cover ratio is presently 6.3 days.

Analysts Set New Price Targets

A number of research firms recently commented on ARW. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Truist Financial lowered their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $124.25.

Hedge Funds Weigh In On Arrow Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Arrow Electronics by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,310 shares of the technology company's stock valued at $3,795,000 after acquiring an additional 1,381 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Arrow Electronics in the first quarter worth about $235,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics in the first quarter worth about $81,000. Versant Capital Management Inc boosted its holdings in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company's stock valued at $40,000 after purchasing an additional 294 shares during the last quarter. Finally, CWM LLC grew its stake in Arrow Electronics by 59.7% during the 2nd quarter. CWM LLC now owns 1,714 shares of the technology company's stock valued at $207,000 after purchasing an additional 641 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Arrow Electronics Trading Down 1.1 %

ARW traded down $1.32 during midday trading on Tuesday, hitting $121.28. The company's stock had a trading volume of 513,247 shares, compared to its average volume of 461,640. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $137.80. The firm has a 50-day moving average price of $126.54 and a two-hundred day moving average price of $127.03. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.38 billion, a P/E ratio of 13.68 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the prior year, the business posted $4.14 earnings per share. Arrow Electronics's revenue for the quarter was down 14.8% compared to the same quarter last year. On average, research analysts anticipate that Arrow Electronics will post 10.23 earnings per share for the current year.

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.