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

Arrow Electronics, Inc. (NYSE:ARW) saw a significant increase in short interest during 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 daily trading volume, of 409,800 shares, the days-to-cover ratio is currently 7.2 days.

Institutional Investors Weigh In On Arrow Electronics

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after buying an additional 1,204,837 shares in the last quarter. FMR LLC boosted its stake in shares of Arrow Electronics by 371.1% during the 3rd quarter. FMR LLC now owns 434,905 shares of the technology company’s stock worth $57,768,000 after acquiring an additional 342,590 shares in the last quarter. Lind Value II ApS grew its holdings in shares of Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after acquiring an additional 172,669 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after acquiring an additional 168,904 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Arrow Electronics by 220.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,510 shares of the technology company’s stock valued at $19,859,000 after purchasing an additional 102,854 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial lowered their price objective 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. Raymond James dropped their price target 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. Finally, Wells Fargo & Company decreased their price objective on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 13th.

Arrow Electronics Stock Performance

Shares of NYSE:ARW traded up $1.66 during midday trading on Friday, hitting $116.63. The stock had a trading volume of 348,861 shares, compared to its average volume of 384,812. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $137.80. 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 stock has a 50 day moving average price of $116.54 and a two-hundred day moving average price of $124.01. The company has a market capitalization of $6.13 billion, a PE ratio of 13.02 and a beta of 1.26.

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