Arrow Electronics (NYSE:ARW) Reaches New 52-Week Low – Here’s Why

Arrow Electronics, Inc. (NYSE:ARW)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $104.42 and last traded at $105.75, with a volume of 9675 shares traded. The stock had previously closed at $105.63.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARW. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Wells Fargo & Company cut their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Arrow Electronics has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Stock Down 1.0 %

The firm’s 50 day moving average is $112.82 and its two-hundred day moving average is $121.60. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.52 and a beta of 1.26. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $112.11, for a total value of $39,574.83. Following the completion of the sale, the chief accounting officer now owns 1,549 shares in the company, valued at $173,658.39. The trade was a 18.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

Institutional Trading of Arrow Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in shares of Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after purchasing an additional 876,396 shares during the period. Franklin Resources Inc. boosted its holdings in Arrow Electronics by 1,072.6% in the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock worth $5,564,000 after acquiring an additional 37,746 shares during the period. Cerity Partners LLC raised its position in shares of Arrow Electronics by 140.4% in the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock valued at $1,598,000 after purchasing an additional 7,028 shares in the last quarter. Lind Value II ApS raised its position 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 valued at $73,374,000 after purchasing an additional 172,669 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position 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 valued at $41,948,000 after purchasing an additional 168,904 shares in the last quarter. Hedge funds and other 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.