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

Arrow Electronics, Inc. (NYSE:ARW - Get Free Report) was the target of a significant increase in short interest during 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 trading volume, of 380,400 shares, the short-interest ratio is presently 6.5 days. Approximately 4.7% of the company's stock are short sold.

Arrow Electronics Stock Performance

ARW traded down $15.66 during trading hours on Thursday, hitting $120.14. The company's stock had a trading volume of 841,421 shares, compared to its average volume of 464,411. The firm has a market capitalization of $6.36 billion, a PE ratio of 11.28 and a beta of 1.26. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The company has a 50-day simple moving average of $131.81 and a 200 day simple moving average of $128.23.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm had revenue of $6.89 billion for the quarter, compared to analysts' expectations of $6.52 billion. During the same quarter in the previous year, the company earned $4.37 earnings per share. The firm's quarterly revenue was down 19.0% compared to the same quarter last year. As a group, sell-side analysts expect that Arrow Electronics will post 10.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ARW shares. Truist Financial increased their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a research report on Friday, August 2nd. Finally, Raymond James lifted their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an "outperform" rating in a 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $130.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company's stock valued at $147,105,000 after acquiring an additional 1,204,837 shares during the last quarter. Boston Partners lifted its stake in Arrow Electronics by 108.5% during the first quarter. Boston Partners now owns 1,001,443 shares of the technology company's stock valued at $129,622,000 after buying an additional 521,117 shares in the last quarter. Lind Value II ApS purchased a new position in shares of Arrow Electronics in the first quarter worth approximately $66,949,000. Dimensional Fund Advisors LP lifted its position in shares of Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company's stock valued at $331,353,000 after acquiring an additional 325,122 shares in the last quarter. Finally, Loews Corp acquired a new position in Arrow Electronics in the 1st quarter worth approximately $25,892,000. 99.34% of the stock is owned by institutional investors and hedge funds.

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.