Arrow Electronics (NYSE:ARW) Updates Q3 Earnings Guidance

Arrow Electronics (NYSE:ARWGet Rating) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $5.27-5.43 for the period, compared to the consensus earnings per share estimate of $5.38. The company issued revenue guidance of $8.92-9.52 billion, compared to the consensus revenue estimate of $9.38 billion. Arrow Electronics also updated its Q3 2022 guidance to $5.27-$5.43 EPS.

Arrow Electronics Stock Performance

Shares of ARW stock traded down $3.34 during mid-day trading on Friday, reaching $115.77. 760,131 shares of the company’s stock traded hands, compared to its average volume of 354,581. Arrow Electronics has a 12 month low of $105.33 and a 12 month high of $137.95. The firm has a 50 day moving average price of $116.29 and a two-hundred day moving average price of $119.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.49. The firm has a market capitalization of $7.65 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35.

Arrow Electronics (NYSE:ARWGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The technology company reported $5.78 EPS for the quarter, topping the consensus estimate of $5.57 by $0.21. The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Arrow Electronics had a net margin of 3.87% and a return on equity of 26.76%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. On average, research analysts forecast that Arrow Electronics will post 21.59 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ARW shares. StockNews.com downgraded shares of Arrow Electronics from a strong-buy rating to a buy rating in a research note on Monday, July 18th. Truist Financial decreased their target price on shares of Arrow Electronics from $143.00 to $126.00 and set a hold rating for the company in a research report on Friday, April 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Arrow Electronics from $158.00 to $127.00 in a report on Friday, July 15th.

Insider Transactions at Arrow Electronics

In related news, SVP Vincent P. Melvin sold 5,334 shares of Arrow Electronics stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $122.26, for a total value of $652,134.84. Following the completion of the transaction, the senior vice president now owns 25,381 shares in the company, valued at $3,103,081.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the senior vice president now owns 11,105 shares in the company, valued at approximately $1,382,572.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vincent P. Melvin sold 5,334 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $122.26, for a total transaction of $652,134.84. Following the transaction, the senior vice president now directly owns 25,381 shares in the company, valued at $3,103,081.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,475 shares of company stock valued at $3,648,254. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Arrow Electronics

Several hedge funds have recently modified their holdings of ARW. Charles Schwab Investment Management Inc. lifted its position in Arrow Electronics by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 468,397 shares of the technology company’s stock valued at $55,566,000 after buying an additional 10,873 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Arrow Electronics by 45.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 134,436 shares of the technology company’s stock valued at $15,948,000 after acquiring an additional 42,300 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Arrow Electronics during the first quarter valued at $15,564,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Arrow Electronics by 53.2% during the first quarter. BNP Paribas Arbitrage SA now owns 76,280 shares of the technology company’s stock valued at $9,049,000 after acquiring an additional 26,477 shares during the period. Finally, Bridgewater Associates LP acquired a new stake in Arrow Electronics in the first quarter worth about $4,338,000. 93.38% of the stock is owned by institutional investors and hedge funds.

About Arrow Electronics

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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.

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