Arrow Electronics, Inc. (NYSE:ARW) Short Interest Down 25.0% in September

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,290,000 shares, a decline of 25.0% from the September 15th total of 1,720,000 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 568,800 shares, the days-to-cover ratio is presently 2.3 days.

A number of brokerages have recently issued reports on ARW. Zacks Investment Research raised shares of Arrow Electronics from a “sell” rating to a “hold” rating and set a $75.00 target price for the company in a research report on Monday, August 3rd. Citigroup reissued a “buy” rating on shares of Arrow Electronics in a research report on Monday, July 13th. TheStreet raised shares of Arrow Electronics from a “c+” rating to a “b-” rating in a research report on Wednesday, September 2nd. Finally, ValuEngine raised shares of Arrow Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.13.

In other news, CEO Michael J. Long sold 68,834 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $78.57, for a total value of $5,408,287.38. Following the completion of the sale, the chief executive officer now owns 255,410 shares of the company’s stock, valued at $20,067,563.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Lily Yan Hughes sold 2,126 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $75.08, for a total transaction of $159,620.08. Following the completion of the sale, the senior vice president now directly owns 23,410 shares of the company’s stock, valued at approximately $1,757,622.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,230 shares of company stock valued at $6,035,273. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Polaris Capital Management LLC increased its stake in shares of Arrow Electronics by 4,318.0% in the second quarter. Polaris Capital Management LLC now owns 565,500 shares of the technology company’s stock valued at $38,844,000 after buying an additional 552,700 shares during the period. FDx Advisors Inc. increased its stake in shares of Arrow Electronics by 13,589.3% in the first quarter. FDx Advisors Inc. now owns 422,725 shares of the technology company’s stock valued at $956,000 after buying an additional 419,637 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Arrow Electronics by 122.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 537,210 shares of the technology company’s stock valued at $36,904,000 after acquiring an additional 296,026 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Arrow Electronics by 9.5% in the first quarter. AQR Capital Management LLC now owns 3,411,958 shares of the technology company’s stock valued at $176,978,000 after acquiring an additional 295,465 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Arrow Electronics by 1,131.5% in the first quarter. Janus Henderson Group PLC now owns 298,044 shares of the technology company’s stock valued at $15,460,000 after acquiring an additional 273,843 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

NYSE ARW traded down $0.04 during trading on Friday, hitting $84.18. 274,012 shares of the company’s stock were exchanged, compared to its average volume of 640,179. The company has a current ratio of 1.45, a quick ratio of 1.03 and a debt-to-equity ratio of 0.44. The company has a market cap of $6.53 billion, a PE ratio of 17.72, a P/E/G ratio of 1.84 and a beta of 1.46. Arrow Electronics has a fifty-two week low of $39.25 and a fifty-two week high of $85.80. The stock’s 50 day moving average price is $79.65 and its two-hundred day moving average price is $69.32.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, July 30th. The technology company reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.14. The firm had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.38 billion. Arrow Electronics had a return on equity of 11.39% and a net margin of 1.41%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Analysts forecast that Arrow Electronics will post 6.5 earnings per share for the current fiscal year.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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