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

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 2,050,000 shares, an increase of 6.2% from the May 31st total of 1,930,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 462,600 shares, the days-to-cover ratio is currently 4.4 days.

Arrow Electronics Trading Up 0.2 %

ARW stock opened at $119.58 on Thursday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 9.40 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $128.08 and a 200-day simple moving average of $122.54. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $147.42.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.04. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.60 EPS. On average, equities research analysts expect that Arrow Electronics will post 10.37 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Arrow Electronics

In other Arrow Electronics news, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $131.66, for a total value of $200,123.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arrow Electronics news, Director Andrew Charles Kerin sold 1,520 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $131.66, for a total value of $200,123.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gail Hamilton sold 2,987 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $132.59, for a total value of $396,046.33. Following the completion of the transaction, the director now owns 102 shares of the company’s stock, valued at $13,524.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,976 shares of company stock valued at $788,183. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Arrow Electronics

A number of institutional investors have recently added to or reduced their stakes in ARW. Rise Advisors LLC purchased a new stake in Arrow Electronics during the 1st quarter worth $32,000. Whittier Trust Co. of Nevada Inc. boosted its position in Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after purchasing an additional 150 shares during the period. Principal Securities Inc. purchased a new stake in Arrow Electronics during the 4th quarter worth $56,000. GAMMA Investing LLC purchased a new stake in Arrow Electronics during the 4th quarter worth $58,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics during the 1st quarter worth $81,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

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.