Mirae Asset Global Investments Co. Ltd. Makes New Investment in Arrow Electronics, Inc. (NYSE:ARW)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Arrow Electronics, Inc. (NYSE:ARW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 657 shares of the technology company’s stock, valued at approximately $88,000.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Arrow Electronics by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after purchasing an additional 325,122 shares in the last quarter. Greenhaven Associates Inc. raised its stake in Arrow Electronics by 1.7% in the second quarter. Greenhaven Associates Inc. now owns 1,882,880 shares of the technology company’s stock worth $227,377,000 after buying an additional 32,052 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Arrow Electronics by 3.1% during the second quarter. Cooke & Bieler LP now owns 1,877,460 shares of the technology company’s stock worth $226,722,000 after buying an additional 56,781 shares during the period. Earnest Partners LLC boosted its position in Arrow Electronics by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,407,576 shares of the technology company’s stock valued at $169,979,000 after acquiring an additional 33,051 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Arrow Electronics by 9,044.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock valued at $147,105,000 after acquiring an additional 1,204,837 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Performance

ARW opened at $119.13 on Tuesday. The firm’s fifty day simple moving average is $131.33 and its two-hundred day simple moving average is $128.22. Arrow Electronics, Inc. has a 52-week low of $108.51 and a 52-week high of $137.80. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 13.30 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.14 earnings per share. Equities analysts anticipate that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ARW shares. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company lifted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial lowered their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.25.

Arrow Electronics 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.