Arrow Electronics (NYSE:ARW) Reaches New 52-Week Low – Here’s Why

Shares of Arrow Electronics, Inc. (NYSE:ARW) reached a new 52-week low during trading on Thursday . The stock traded as low as $105.00 and last traded at $108.20, with a volume of 153601 shares traded. The stock had previously closed at $114.91.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Raymond James dropped their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st.

Arrow Electronics Stock Down 4.9 %

The firm has a market cap of $5.75 billion, a PE ratio of 12.21 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The stock has a fifty day moving average price of $116.51 and a 200-day moving average price of $123.60.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 6th. The technology company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. Research analysts expect that Arrow Electronics, Inc. will post 10.26 EPS for the current year.

Institutional Investors Weigh In On Arrow Electronics

Hedge funds have recently modified their holdings of the stock. Creative Planning lifted its stake in shares of Arrow Electronics by 6.0% in the second quarter. Creative Planning now owns 11,066 shares of the technology company’s stock worth $1,336,000 after acquiring an additional 630 shares in the last quarter. Truist Financial Corp boosted its stake in Arrow Electronics by 6.8% during the 2nd quarter. Truist Financial Corp now owns 11,028 shares of the technology company’s stock valued at $1,332,000 after acquiring an additional 700 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Arrow Electronics during the 2nd quarter worth $863,000. GAMMA Investing LLC increased its position in shares of Arrow Electronics by 24.6% in the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after purchasing an additional 137 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Arrow Electronics by 254.3% in the 3rd quarter. CWM LLC now owns 6,072 shares of the technology company’s stock valued at $806,000 after purchasing an additional 4,358 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.