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

Arrow Electronics, Inc. (NYSE:ARW) 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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARW shares. Bank of America downgraded shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their target price 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Arrow Electronics has a consensus rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Trading Down 8.7 %

The stock’s 50-day simple moving average is $109.09 and its two-hundred day simple moving average is $117.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.08. The firm has a market capitalization of $4.98 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26.

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

Insider Buying and Selling

In other Arrow Electronics news, Director William F. Austen purchased 1,900 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the purchase, the director now directly owns 7,858 shares of the company’s stock, valued at $818,174.96. This trade represents a 31.89 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at approximately $173,658.39. The trade was a 18.56 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in 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 buying an additional 908,185 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Arrow Electronics by 163.7% during the 4th quarter. Bank of America Corp DE now owns 1,176,527 shares of the technology company’s stock worth $133,089,000 after acquiring an additional 730,408 shares in the last quarter. Fiduciary Management Inc. WI boosted its position in shares of 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 acquiring an additional 473,909 shares during the last quarter. Boston Partners grew its holdings in shares of Arrow Electronics by 14.8% in the fourth quarter. Boston Partners now owns 2,474,074 shares of the technology company’s stock valued at $280,138,000 after purchasing an additional 318,329 shares in the last quarter. Finally, Lind Value II ApS increased its position in Arrow Electronics by 36.3% in the fourth quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock worth $73,374,000 after purchasing an additional 172,669 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.