Arrow Electronics, Inc. (NYSE:ARW) Short Interest Up 7.3% in January

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 7.3% from the December 31st total of 2,750,000 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average trading volume of 409,800 shares, the short-interest ratio is currently 7.2 days.

Institutional Investors Weigh In On Arrow Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Arrow Electronics by 71.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock valued at $278,220,000 after buying an additional 876,396 shares during the period. Franklin Resources Inc. raised its holdings in shares of Arrow Electronics by 1,072.6% in the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock valued at $5,564,000 after buying an additional 37,746 shares during the period. Cerity Partners LLC raised its holdings in shares of Arrow Electronics by 140.4% in the 3rd quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock valued at $1,598,000 after buying an additional 7,028 shares during the period. Lind Value II ApS increased its holdings in Arrow Electronics by 36.3% during the 4th 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 period. Finally, JPMorgan Chase & Co. boosted its position in shares of Arrow Electronics by 115.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock worth $41,948,000 after acquiring an additional 168,904 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

ARW has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company lowered their price objective 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. Finally, Raymond James lowered their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

Arrow Electronics Trading Up 1.0 %

NYSE:ARW traded up $1.13 on Tuesday, reaching $114.63. The company’s stock had a trading volume of 20,286 shares, compared to its average volume of 402,125. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $137.80. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 12.79 and a beta of 1.26. The stock has a 50 day moving average price of $116.74 and a 200 day moving average price of $123.72.

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.