Arrow Electronics, Inc. (NYSE:ARW) Short Interest Up 6.2% in June

Arrow Electronics, Inc. (NYSE:ARW) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,050,000 shares, a growth of 6.2% from the May 31st total of 1,930,000 shares. Approximately 3.9% of the company’s stock are short sold. Based on an average daily trading volume, of 462,600 shares, the days-to-cover ratio is currently 4.4 days.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price objective on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th.

Insider Activity at Arrow Electronics

In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $132.59, for a total transaction of $396,046.33. Following the sale, the director now directly owns 102 shares of the company’s stock, valued at $13,524.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $132.59, for a total transaction of $396,046.33. Following the transaction, the director now owns 102 shares of the company’s stock, valued at $13,524.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew Charles Kerin sold 1,469 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $130.71, for a total value of $192,012.99. Following the completion of the sale, the director now directly owns 1,520 shares of the company’s stock, valued at $198,679.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,976 shares of company stock valued at $788,183. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arrow Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARW. Rise Advisors LLC bought a new position in shares of Arrow Electronics in the first quarter worth $32,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Arrow Electronics during the 4th quarter worth approximately $56,000. GAMMA Investing LLC acquired a new stake in shares of Arrow Electronics during the 4th quarter worth approximately $58,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Arrow Electronics in the first quarter valued at approximately $81,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Stock Performance

Shares of ARW stock traded up $0.19 on Wednesday, hitting $119.58. The company’s stock had a trading volume of 168,102 shares, compared to its average volume of 511,305. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.49. The stock’s 50 day moving average is $128.24 and its 200-day moving average is $122.56. The company has a market capitalization of $6.37 billion, a PE ratio of 9.39 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Tuesday, May 7th. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.37 by $0.04. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the firm earned $4.60 earnings per share. Equities research analysts expect that Arrow Electronics will post 10.37 earnings per share for the current fiscal 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.