Arrow Electronics (NYSE:ARW) Reaches New 12-Month High – What’s Next?

Arrow Electronics, Inc. (NYSE:ARW) shares hit a new 52-week high on Monday . The stock traded as high as $135.00 and last traded at $133.4550, with a volume of 405304 shares. The stock had previously closed at $132.49.

Analyst Ratings Changes

A number of research analysts recently weighed in on ARW shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Arrow Electronics in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Wells Fargo & Company lowered their target price on Arrow Electronics from $98.00 to $94.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Finally, Wall Street Zen lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Arrow Electronics presently has an average rating of “Reduce” and a consensus price target of $102.00.

Arrow Electronics Price Performance

The company’s 50-day moving average price is $116.02 and its two-hundred day moving average price is $118.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.14. The company has a market capitalization of $7.11 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04.

Hedge Funds Weigh In On Arrow Electronics

Several institutional investors and hedge funds have recently made changes to their positions in ARW. Gateway Investment Advisers LLC lifted its holdings in Arrow Electronics by 3.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 2,276 shares of the technology company’s stock worth $251,000 after purchasing an additional 84 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Arrow Electronics by 25.2% during the second quarter. Geneos Wealth Management Inc. now owns 442 shares of the technology company’s stock worth $56,000 after buying an additional 89 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arrow Electronics by 12.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 821 shares of the technology company’s stock worth $105,000 after buying an additional 90 shares in the last quarter. Meritage Portfolio Management boosted its position in shares of Arrow Electronics by 4.3% in the second quarter. Meritage Portfolio Management now owns 2,440 shares of the technology company’s stock valued at $311,000 after acquiring an additional 101 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Arrow Electronics by 84.2% in the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company’s stock valued at $28,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

About Arrow Electronics

Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.

In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.