Arrow Electronics, Inc. (NYSE:ARW) Short Interest Down 8.0% in March

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

Insider Activity at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard John Marano sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total value of $221,274.00. Following the completion of the transaction, the insider now directly owns 12,108 shares in the company, valued at $1,410,097.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,134 shares of company stock worth $488,795. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Arrow Electronics

Several hedge funds have recently bought and sold shares of ARW. Legacy Financial Group LLC purchased a new position in shares of Arrow Electronics in the third quarter worth approximately $25,000. Quarry LP purchased a new stake in shares of Arrow Electronics in the fourth quarter valued at $29,000. Rise Advisors LLC purchased a new position in shares of Arrow Electronics during the first quarter valued at $32,000. IFP Advisors Inc lifted its stake in Arrow Electronics by 33.0% in the 3rd quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics during the 1st quarter valued at about $52,000. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, beating 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%. The business’s revenue was down 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned $5.69 earnings per share. As a group, analysts expect that Arrow Electronics will post 11.53 EPS 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.