Arrow Electronics (NYSE:ARW) Announces Quarterly Earnings Results

Arrow Electronics (NYSE:ARW) posted its quarterly earnings data on Thursday. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04, Briefing.com reports. The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the firm posted $4.60 earnings per share. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded up $2.18 on Friday, hitting $124.89. The company had a trading volume of 542,271 shares, compared to its average volume of 443,307. The business has a 50-day simple moving average of $123.70 and a 200-day simple moving average of $119.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.00. The company has a market cap of $6.74 billion, a PE ratio of 9.81 and a beta of 1.39. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $147.42.

Insider Buying and Selling

In related news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,134 shares of company stock worth $488,795. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

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.