Arrow Electronics (NYSE:ARW) Reaches New 52-Week Low at $107.09

Posted by on Jun 16th, 2022

Shares of Arrow Electronics, Inc. (NYSE:ARW – Get Rating) hit a new 52-week low during trading on Thursday . The company traded as low as $107.09 and last traded at $107.29, with a volume of 9254 shares trading hands. The stock had previously closed at $116.41.

Several equities research analysts recently commented on ARW shares. Truist Financial cut their price objective on shares of Arrow Electronics from $143.00 to $126.00 and set a “hold” rating on the stock in a research report on Friday, April 8th. StockNews.com raised shares of Arrow Electronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 28th.

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.49. The stock has a market cap of $7.07 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.77 and a beta of 1.37. The stock’s fifty day simple moving average is $118.18 and its 200-day simple moving average is $122.91.

Arrow Electronics (NYSE:ARW – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The technology company reported $5.43 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.90. Arrow Electronics had a net margin of 3.60% and a return on equity of 24.40%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the firm posted $2.84 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Arrow Electronics, Inc. will post 21.57 earnings per share for the current year.

In related news, SVP Vincent P. Melvin sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $122.26, for a total transaction of $652,134.84. Following the transaction, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at approximately $3,103,081.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrew Charles Kerin sold 1,550 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $125.11, for a total value of $193,920.50. The disclosure for this sale can be found here. Insiders sold a total of 29,475 shares of company stock worth $3,648,254 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in Arrow Electronics in the 1st quarter valued at about $25,000. Allworth Financial LP bought a new stake in Arrow Electronics in the 1st quarter valued at about $26,000. Financial Management Professionals Inc. raised its stake in Arrow Electronics by 95.7% in the 1st quarter. Financial Management Professionals Inc. now owns 225 shares of the technology company’s stock valued at $27,000 after acquiring an additional 110 shares during the period. National Bank of Canada FI bought a new stake in shares of Arrow Electronics during the fourth quarter valued at about $31,000. Finally, CWM LLC bought a new stake in shares of Arrow Electronics during the fourth quarter valued at about $43,000. 93.38% of the stock is owned by institutional investors.

Arrow Electronics Company Profile (NYSE:ARW)

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.

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