Bryce Point Capital LLC bought a new position in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,640 shares of the technology company’s stock, valued at approximately $561,000.
Several other hedge funds have also added to or reduced their stakes in ARW. Oppenheimer Asset Management Inc. increased its position in Arrow Electronics by 0.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 370,581 shares of the technology company’s stock worth $44,840,000 after buying an additional 1,083 shares during the period. Fullcircle Wealth LLC grew its stake in shares of Arrow Electronics by 62.2% in the third quarter. Fullcircle Wealth LLC now owns 8,054 shares of the technology company’s stock valued at $899,000 after acquiring an additional 3,088 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Arrow Electronics by 167.5% in the third quarter. Smartleaf Asset Management LLC now owns 337 shares of the technology company’s stock valued at $41,000 after acquiring an additional 211 shares in the last quarter. Optimize Financial Inc bought a new position in Arrow Electronics during the third quarter worth about $1,312,000. Finally, Savant Capital LLC raised its stake in Arrow Electronics by 2.2% in the 3rd quarter. Savant Capital LLC now owns 15,915 shares of the technology company’s stock worth $1,926,000 after purchasing an additional 340 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics Stock Performance
Arrow Electronics stock opened at $158.08 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.14 billion, a PE ratio of 14.45, a P/E/G ratio of 1.24 and a beta of 1.04. Arrow Electronics, Inc. has a 12-month low of $86.50 and a 12-month high of $160.63. The business’s 50-day moving average price is $118.71 and its two-hundred day moving average price is $119.01.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Arrow Electronics from $94.00 to $115.00 and gave the stock an “underweight” rating in a research report on Friday. Wall Street Zen raised Arrow Electronics from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial raised their price objective on Arrow Electronics from $120.00 to $148.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Zacks Research downgraded Arrow Electronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Arrow Electronics currently has an average rating of “Reduce” and a consensus target price of $124.33.
Get Our Latest Research Report on Arrow Electronics
About Arrow Electronics
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.
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