Arrow Electronics, Inc. (NYSE:ARW) Short Interest Up 7.3% in December

Arrow Electronics, Inc. (NYSE:ARW) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 2,950,000 shares, a growth of 7.3% from the December 15th total of 2,750,000 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average trading volume of 409,800 shares, the days-to-cover ratio is presently 7.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC lifted its stake in shares of Arrow Electronics by 2.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 3,925 shares of the technology company’s stock valued at $521,000 after purchasing an additional 108 shares during the period. Creative Planning lifted its holdings in shares of Arrow Electronics by 1.1% during the third quarter. Creative Planning now owns 11,189 shares of the technology company’s stock valued at $1,486,000 after purchasing an additional 123 shares in the last quarter. Inspire Investing LLC lifted its stake in Arrow Electronics by 4.1% during the 2nd quarter. Inspire Investing LLC now owns 3,307 shares of the technology company’s stock valued at $399,000 after acquiring an additional 130 shares during the period. Covestor Ltd boosted its holdings in Arrow Electronics by 14.0% in the third quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock worth $141,000 after purchasing an additional 131 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after buying an additional 137 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Arrow Electronics Stock Up 1.4 %

Shares of NYSE ARW opened at $116.63 on Tuesday. Arrow Electronics has a one year low of $108.51 and a one year high of $137.80. The stock has a market capitalization of $6.13 billion, a P/E ratio of 13.02 and a beta of 1.26. The firm’s 50 day simple moving average is $116.47 and its two-hundred day simple moving average is $124.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.14 EPS. As a group, analysts expect that Arrow Electronics will post 10.23 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.