Arrow Electronics, Inc. (NYSE:ARW) Short Interest Update

Arrow Electronics, Inc. (NYSE:ARW) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 2,230,000 shares, an increase of 8.8% from the June 15th total of 2,050,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 454,000 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted their target price on Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th.

Arrow Electronics Trading Down 0.6 %

ARW opened at $125.92 on Thursday. The firm has a 50 day simple moving average of $127.02 and a 200 day simple moving average of $122.40. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 9.90 and a beta of 1.27. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $145.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.07.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.08 billion. During the same quarter in the previous year, the business earned $4.60 EPS. The firm’s revenue was down 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that Arrow Electronics will post 10.34 earnings per share for the current year.

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, Director Gail Hamilton sold 2,987 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $132.59, for a total transaction of $396,046.33. Following the completion of the sale, the director now owns 102 shares of the company’s stock, valued at $13,524.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Andrew Charles Kerin sold 1,520 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $131.66, for a total value of $200,123.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $132.59, for a total transaction of $396,046.33. Following the sale, the director now owns 102 shares in the company, valued at $13,524.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,976 shares of company stock worth $788,183. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Arrow Electronics

Hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its holdings in shares of Arrow Electronics by 10.4% during the fourth quarter. QRG Capital Management Inc. now owns 6,116 shares of the technology company’s stock worth $748,000 after acquiring an additional 575 shares during the period. Oak Thistle LLC acquired a new stake in shares of Arrow Electronics in the 4th quarter valued at about $1,012,000. AustralianSuper Pty Ltd lifted its holdings in shares of Arrow Electronics by 172.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 92,990 shares of the technology company’s stock valued at $11,368,000 after purchasing an additional 58,866 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Arrow Electronics during the fourth quarter worth about $1,259,000. Finally, Norges Bank bought a new stake in Arrow Electronics in the 4th quarter valued at approximately $79,027,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

About Arrow Electronics

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.