Arrow Electronics, Inc. (NYSE:ARW) Shares Sold by Denali Advisors LLC

Denali Advisors LLC lowered its position in shares of Arrow Electronics, Inc. (NYSE:ARW) by 13.8% in the second quarter, HoldingsChannel.com reports. The fund owned 3,126 shares of the technology company’s stock after selling 500 shares during the quarter. Denali Advisors LLC’s holdings in Arrow Electronics were worth $377,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in shares of Arrow Electronics during the fourth quarter worth about $204,000. Principal Securities Inc. acquired a new stake in Arrow Electronics during the 4th quarter valued at approximately $56,000. Brown Advisory Inc. boosted its holdings in shares of Arrow Electronics by 6.6% in the 4th quarter. Brown Advisory Inc. now owns 18,891 shares of the technology company’s stock valued at $2,309,000 after acquiring an additional 1,166 shares during the last quarter. Norges Bank acquired a new stake in shares of Arrow Electronics in the fourth quarter worth $79,027,000. Finally, Trexquant Investment LP purchased a new position in shares of Arrow Electronics during the fourth quarter worth $7,770,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARW. Wells Fargo & Company upped their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Truist Financial raised their target price on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Raymond James raised their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $130.75.

Arrow Electronics Price Performance

NYSE:ARW opened at $129.69 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. Arrow Electronics, Inc. has a 52 week low of $108.51 and a 52 week high of $136.93. The stock’s 50-day moving average price is $126.62 and its 200-day moving average price is $126.23. The stock has a market capitalization of $6.90 billion, a PE ratio of 10.20 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.16 by $0.62. The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. Arrow Electronics’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period last year, the company earned $4.37 earnings per share. As a group, equities analysts expect that Arrow Electronics, Inc. will post 10.74 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.