Arrow Electronics (NYSE:ARW) Hits New 12-Month Low – Here’s What Happened

Arrow Electronics, Inc. (NYSE:ARW)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $96.92 and last traded at $97.42, with a volume of 127392 shares changing hands. The stock had previously closed at $105.16.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ARW shares. Wells Fargo & Company cut their price objective on shares of 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 Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Stock Down 4.1 %

The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $108.08 and its 200 day simple moving average is $117.53. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. Equities analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 237 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the sale, the chief accounting officer now owns 2,086 shares of the company’s stock, valued at approximately $226,810.78. This trade represents a 10.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William F. Austen bought 1,900 shares of Arrow Electronics stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $104.12 per share, for a total transaction of $197,828.00. Following the completion of the acquisition, the director now owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. This represents a 31.89 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Arrow Electronics

A number of large investors have recently bought and sold shares of the business. BOK Financial Private Wealth Inc. acquired a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $25,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Arrow Electronics during the fourth quarter worth $31,000. New Age Alpha Advisors LLC bought a new stake in Arrow Electronics in the 4th quarter valued at $47,000. Principal Securities Inc. boosted its stake in Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after purchasing an additional 126 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in Arrow Electronics during the 4th quarter worth about $55,000. 99.34% of the stock is owned by institutional investors.

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.