Short Interest in Arrow Electronics, Inc. (NYSE:ARW) Declines By 8.0%

Arrow Electronics, Inc. (NYSE:ARW) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,190,000 shares, a decrease of 8.0% from the March 15th total of 2,380,000 shares. Approximately 4.1% of the company’s stock are sold short. Based on an average daily volume of 549,100 shares, the short-interest ratio is currently 4.0 days.

Insider Buying and Selling

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock valued at $488,795 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Arrow Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in ARW. Moneta Group Investment Advisors LLC purchased a new stake in Arrow Electronics in the fourth quarter worth about $230,362,000. Norges Bank bought a new stake in Arrow Electronics during the 4th quarter worth approximately $79,027,000. Assenagon Asset Management S.A. lifted its holdings in Arrow Electronics by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock valued at $65,859,000 after purchasing an additional 409,810 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Arrow Electronics by 67.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock worth $118,527,000 after purchasing an additional 380,383 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Arrow Electronics by 42.9% in the third quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock worth $145,244,000 after purchasing an additional 349,561 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial decreased their price target on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research note on Friday, February 9th.

Arrow Electronics Stock Performance

ARW stock traded up $0.04 on Tuesday, hitting $123.44. The company had a trading volume of 608,981 shares, compared to its average volume of 553,150. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 7.82 and a beta of 1.41. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $120.63 and its 200 day simple moving average is $119.06. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $147.42.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, topping the consensus estimate of $3.72 by $0.26. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.84 billion. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. Arrow Electronics’s revenue was down 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.69 earnings per share. As a group, equities research analysts expect that Arrow Electronics will post 11.53 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.