Arrow Electronics (NYSE:ARW) Hits New 1-Year Low – Here’s What Happened

Shares of Arrow Electronics, Inc. (NYSE:ARW) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $103.33 and last traded at $103.62, with a volume of 53889 shares traded. The stock had previously closed at $104.62.

Analyst Ratings Changes

Several research firms have weighed in on ARW. Wells Fargo & Company cut their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Stock Down 1.7 %

The company’s 50 day simple moving average is $111.87 and its 200-day simple moving average is $120.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The firm has a market capitalization of $5.37 billion, a PE ratio of 14.13, a PEG ratio of 0.52 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. On average, analysts forecast that Arrow Electronics, Inc. will post 10.57 EPS for the current fiscal year.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the sale, the chief accounting officer now owns 1,549 shares of the company’s stock, valued at approximately $173,658.39. This trade represents a 18.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Arrow Electronics

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in shares of Arrow Electronics by 208.8% during the fourth quarter. FMR LLC now owns 1,343,090 shares of the technology company’s stock valued at $151,930,000 after purchasing an additional 908,185 shares in the last quarter. Pacer Advisors Inc. raised its position in Arrow Electronics by 71.9% during the third quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after purchasing an additional 876,396 shares during the period. Bank of America Corp DE lifted its stake in shares of Arrow Electronics by 163.7% in the 4th quarter. Bank of America Corp DE now owns 1,176,527 shares of the technology company’s stock valued at $133,089,000 after purchasing an additional 730,408 shares during the last quarter. Fiduciary Management Inc. WI grew its holdings in Arrow Electronics by 44.1% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,548,925 shares of the technology company’s stock valued at $175,214,000 after purchasing an additional 473,909 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Arrow Electronics by 14.8% during the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after buying an additional 318,329 shares during the period. Institutional investors own 99.34% of the company’s stock.

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.