On September 18, 2023, the State Board of Administration of Florida Retirement System announced a decrease in its stake in Arrow Electronics, Inc. The technology company’s stock holdings were reduced by 8.9% during the first quarter, according to the company’s recent filing with the Securities and Exchange Commission. As a result, the firm now owns 59,293 shares of Arrow Electronics, representing approximately 0.10% of the company’s total value. The current worth of these shares is estimated at $7,404,000.
Arrow Electronics (NYSE:ARW) recently released its quarterly earnings results on August 3rd. During this time period, the technology company reported earnings per share (EPS) of $4.37 for the quarter. This exceeded analysts’ expectations as it surpassed the consensus estimate of $4.33 by $0.04 per share. Despite this positive outcome in terms of EPS, Arrow Electronics witnessed a decline in revenue compared to forecasts. The company generated $8.51 billion during the quarter while analysts had expected revenues to reach $8.73 billion.
The net margin for Arrow Electronics was calculated at 3.35% during this period with a return on equity standing at 22.19%. These figures suggest that despite some headwinds impacting their top line growth, the company has managed to maintain profitability and generate returns for its shareholders.
Comparing this year’s performance to the same quarter last year reveals a decline in quarterly revenue by 10%. In Q3 2022, Arrow Electronics posted revenues totaling $9.46 billion indicating a significant shift in performance in just one year’s time.
Analysts who closely follow Arrow Electronics predict that based on current trends and financial indicators, the company will likely post earnings per share of $16.07 for this fiscal year.
Arrow Electronics specializes in providing industrial and commercial users with electronic components and enterprise computing solutions across various regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two distinct segments known as Global Components and Global Enterprise Computing Solutions.
The Global Components segment focuses on distributing electronic components such as semiconductors, connectors, passives, and electromechanical products to customers who require these components for their manufacturing processes. This segment ensures a steady supply of high-quality components to industries ranging from automotive and telecommunications to healthcare and consumer electronics.
On the other hand, the Global Enterprise Computing Solutions segment caters to organizations seeking comprehensive IT infrastructure solutions and services. Arrow Electronics offers a wide range of computing technologies including servers, storage, networking, virtualization software, security solutions, and cloud computing services.
Through its extensive product offerings and global presence, Arrow Electronics endeavors to meet the diverse needs of businesses operating in various sectors across different continents.
Genuine Parts Company
GPC
Strong Buy
Updated on: 04/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Arrow Electronics: Institutional Investors and Analyst Views Highlight Market Interest
Arrow Electronics: Recent Activity and Analysis
September 18, 2023
Arrow Electronics, Inc. (ARW), a technology company specializing in electronic components and cloud computing solutions, has gained attention from several large investors in recent months. Institutional investors and hedge funds currently hold a substantial 94.79% of the company’s stock.
Among the notable investors is Prelude Capital Management LLC, which acquired a new position in Arrow Electronics during the first quarter of this year. The value of their acquisition stands at approximately $244,000. Brandywine Global Investment Management LLC also increased its stake in Arrow Electronics by 16.9% during the same period, now owning 111,959 shares worth $13,980,000.
Ameriprise Financial Inc. followed suit, growing its stake by 11.3% to stand at 831,171 shares valued at $103,930,000. Thrivent Financial for Lutherans also demonstrated increased confidence in Arrow Electronics with a stake growth of 6.4%, amounting to 110,701 shares valued at $13,823,000.
In addition to these investors, Mercer Global Advisors Inc. ADV experienced a significant increase of 30.6% in their stake during the first quarter. They now own 3,825 shares worth $478 ($0 comma zero zero) ,000.
The trading activity and investments made by these institutional investors and hedge funds highlight the market interest surrounding Arrow Electronics.
On Monday morning ARW opened at $127.20 per share demonstrating its stability within the market despite recent fluctuations. However,the company has experienced some volatility over the year with a one year low of $89.38 and a one year high of $147.42.
Further analysis reveals that Arrow Electronics has maintained an average price-to-earnings ratio (P/E) of 6.47 based on historical data. Additionally,it has shown resilience with a market capitalization of $7.08 billion.
Considering the company’s financial health, Arrow Electronics boasts a reasonable debt-to-equity ratio standing at 0.65 which indicates responsible and sustainable financial management. Furthermore, its current ratio of 1.61 and quick ratio of 1.09 demonstrate its ability to meet short-term obligations.
Recent research reports have shed further light on the company’s performance and prospects. Bank of America recently adjusted Arrow Electronics’ price objective from $155.00 to $148.00 in their research note based on their analysis of company performance.
StockNews.com initiated coverage on Arrow Electronics, giving it a “hold” rating according to their research note published on August 17th.
Meanwhile, Truist Financial lifted the stock’s price objective from $131.00 to $138.00 in another research note, reiterating that the stock should be held rather than sold.
Overall, analysts have provided mixed views on Arrow Electronics’ stock, with one analyst issuing a sell rating, five assigning hold ratings and one assigning a buy rating. Bloomberg.com data shows that the consensus rating for ARW is currently marked as “Hold” with an average price target of $129.57.
In conclusion, Arrow Electronics has been drawing attention from significant institutional investors and hedge funds due to its presence in the technology industry and solid financials. The recent remarks by various analysts emphasize the importance of monitoring this stock closely as it navigates through dynamic market conditions.
To access our latest research report on ARW and stay updated on future developments surrounding Arrow Electronics, kindly refer to our website or contact our customer service team directly.
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