Arrow Electronics (NYSE:ARW) Price Target Cut to $124.00 by Analysts at Truist Financial

Arrow Electronics (NYSE:ARWFree Report) had its price objective trimmed by Truist Financial from $128.00 to $124.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

Separately, StockNews.com cut Arrow Electronics from a buy rating to a hold rating in a research note on Wednesday, December 13th.

Read Our Latest Stock Analysis on ARW

Arrow Electronics Stock Performance

Shares of NYSE:ARW opened at $111.29 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Arrow Electronics has a 1-year low of $108.77 and a 1-year high of $147.42. The stock has a market capitalization of $6.03 billion, a P/E ratio of 6.21 and a beta of 1.40. The business has a 50-day moving average price of $117.67 and a two-hundred day moving average price of $122.17.

Arrow Electronics (NYSE:ARWGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.26. Arrow Electronics had a net margin of 3.06% and a return on equity of 19.78%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the previous year, the firm posted $5.69 earnings per share. Arrow Electronics’s revenue for the quarter was down 15.8% compared to the same quarter last year. Equities analysts predict that Arrow Electronics will post 16.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARW. Moneta Group Investment Advisors LLC acquired a new stake in Arrow Electronics in the fourth quarter worth $230,362,000. Norges Bank acquired a new stake in Arrow Electronics during the 4th quarter worth approximately $79,027,000. Assenagon Asset Management S.A. increased its position in shares of Arrow Electronics by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 538,726 shares of the technology company’s stock worth $65,859,000 after acquiring an additional 409,810 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Arrow Electronics by 67.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 946,398 shares of the technology company’s stock worth $118,527,000 after acquiring an additional 380,383 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Arrow Electronics by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,164,451 shares of the technology company’s stock valued at $145,244,000 after acquiring an additional 349,561 shares in the last quarter. Institutional investors own 94.79% of the company’s stock.

About Arrow Electronics

(Get Free Report)

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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