Arrow Electronics (NYSE:ARW) Sets New 12-Month Low – Here’s What Happened

Shares of Arrow Electronics, Inc. (NYSE:ARW) hit a new 52-week low during trading on Thursday . The company traded as low as $105.00 and last traded at $108.20, with a volume of 153601 shares trading hands. The stock had previously closed at $114.91.

Wall Street Analysts Forecast Growth

ARW has been the topic of a number of research reports. Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Finally, Raymond James dropped their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

Arrow Electronics Price Performance

The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 12.21 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The business has a fifty day moving average price of $116.51 and a 200 day moving average price of $123.60.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. On average, research analysts expect that Arrow Electronics, Inc. will post 10.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARW. Pacer Advisors Inc. raised its stake in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares during the period. Greenhaven Associates Inc. raised its position in Arrow Electronics by 1.1% during the fourth quarter. Greenhaven Associates Inc. now owns 1,904,857 shares of the technology company’s stock valued at $215,477,000 after buying an additional 20,484 shares during the period. State Street Corp lifted its stake in Arrow Electronics by 0.3% in the 3rd quarter. State Street Corp now owns 1,689,695 shares of the technology company’s stock worth $224,442,000 after acquiring an additional 4,811 shares in the last quarter. Lind Value II ApS grew its stake in Arrow Electronics by 36.3% during the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after acquiring an additional 172,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Arrow Electronics by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,907 shares of the technology company’s stock valued at $56,436,000 after purchasing an additional 14,971 shares during the period. Institutional investors own 99.34% of the company’s stock.

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.