Sigma Planning Corp acquired a new stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,111 shares of the technology company’s stock, valued at approximately $664,000.
Other large investors have also modified their holdings of the company. Bayban purchased a new position in shares of Arrow Electronics during the first quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. raised its position in Arrow Electronics by 112.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares during the last quarter. Transamerica Financial Advisors LLC purchased a new stake in Arrow Electronics in the 4th quarter valued at $27,000. Keating Financial Advisory Services Inc. acquired a new stake in Arrow Electronics during the 2nd quarter worth $28,000. Finally, Advisory Services Network LLC acquired a new stake in Arrow Electronics during the 3rd quarter worth $31,000. 99.34% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics Stock Performance
Shares of ARW opened at $205.75 on Wednesday. The stock has a market capitalization of $10.47 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.30 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.22. Arrow Electronics, Inc. has a 1 year low of $101.79 and a 1 year high of $237.33. The company’s fifty day moving average is $209.77 and its two-hundred day moving average is $189.92.
Arrow Electronics declared that its board has initiated a stock buyback program on Wednesday, May 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Bank of America upgraded shares of Arrow Electronics from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $122.00 to $233.00 in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arrow Electronics in a research note on Friday, August 21st. Zacks Research lowered Arrow Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Wells Fargo & Company boosted their price target on Arrow Electronics from $175.00 to $200.00 and gave the company an “underweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised Arrow Electronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arrow Electronics has a consensus rating of “Hold” and a consensus price target of $233.25.
Check Out Our Latest Stock Report on Arrow Electronics
Arrow Electronics Company Profile
Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.
In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.
Read More
- Five stocks we like better than Arrow Electronics
- Dutch Bros Sell-Off Creates a Growth Opportunity
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
Want to see what other hedge funds are holding ARW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Electronics, Inc. (NYSE:ARW – Free Report).
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.
