Sei Investments Co. grew its stake in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,013,281 shares of the technology company’s stock after acquiring an additional 117,620 shares during the period. Sei Investments Co.’s holdings in Arrow Electronics were worth $145,313,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ARW. ACR Alpine Capital Research LLC raised its holdings in Arrow Electronics by 42.6% in the 4th quarter. ACR Alpine Capital Research LLC now owns 3,445,593 shares of the technology company’s stock valued at $379,635,000 after acquiring an additional 1,028,778 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Arrow Electronics by 37.7% during the 3rd quarter. AQR Capital Management LLC now owns 3,185,582 shares of the technology company’s stock worth $384,818,000 after buying an additional 871,585 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Arrow Electronics by 1,412.3% during the 4th quarter. Brandes Investment Partners LP now owns 409,461 shares of the technology company’s stock worth $45,115,000 after buying an additional 382,385 shares during the last quarter. FIL Ltd lifted its holdings in shares of Arrow Electronics by 33.8% in the fourth quarter. FIL Ltd now owns 1,231,833 shares of the technology company’s stock worth $135,723,000 after acquiring an additional 310,936 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Arrow Electronics in the 4th quarter valued at approximately $29,255,000. Institutional investors own 99.34% of the company’s stock.
Arrow Electronics Price Performance
Shares of NYSE ARW opened at $215.07 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $11.00 billion, a PE ratio of 15.38 and a beta of 1.20. The stock’s 50 day moving average price is $215.48 and its 200-day moving average price is $173.33. Arrow Electronics, Inc. has a twelve month low of $101.79 and a twelve month high of $237.33.
Arrow Electronics announced that its board has initiated a stock buyback program on Wednesday, May 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Insider Activity at Arrow Electronics
In related news, SVP Carine Lamercie Jean-Claude sold 3,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.00, for a total value of $648,000.00. Following the sale, the senior vice president directly owned 12,626 shares in the company, valued at approximately $2,727,216. The trade was a 19.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Nowak sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $210.99, for a total transaction of $732,768.27. Following the sale, the insider owned 48,835 shares in the company, valued at $10,303,696.65. The trade was a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on ARW shares. Bank of America upgraded Arrow Electronics from an “underperform” rating to a “neutral” rating and increased their target price for the company from $122.00 to $233.00 in a research report on Wednesday, May 13th. Truist Financial upped their price target on shares of Arrow Electronics from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $220.00 price target on shares of Arrow Electronics in a research note on Friday, May 8th. Wells Fargo & Company lifted their price target on shares of Arrow Electronics from $165.00 to $175.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Arrow Electronics in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Arrow Electronics has a consensus rating of “Moderate Buy” and an average target price of $222.00.
Check Out Our Latest Research Report on ARW
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.
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