Arrow Electronics Inc.’s recent filing unveils that its Director HAMILTON GAIL unloaded Company’s shares for reported $0.18 million on May 30. In the deal valued at $127.81 per share,1,419 shares were sold. As a result of this transaction, HAMILTON GAIL now holds 101 shares worth roughly $ 12847.2.
Then, Schell Kirk sold 4,130 shares, generating $520,504 in total proceeds. Upon selling the shares at $126.03, the President, Global Components now owns 19,549 shares.
Before that, Zech Gretchen sold 4,000 shares. Arrow Electronics Inc. shares valued at $505,040 were divested by the SVP, Chief Gov, Sust, HR Offr at a price of $126.26 per share. As a result of the transaction, Zech Gretchen now holds 27,925 shares, worth roughly $3.55 million.
Wells Fargo downgraded its Arrow Electronics Inc. [ARW] rating to an Underweight from a an Equal weight in a research note published on Friday, September 16, 2022; the price target was decreased to $87 from $125. PT values the company’s stock at a premium of -46.21 to its Friday closing price.
Price Performance Review of ARW
On Friday, Arrow Electronics Inc. [NYSE:ARW] saw its stock fall -0.59% to $127.20. On the same session, the stock had its day’s lowest price of $126.255, but rose to a high of $128.61. Over the last five days, the stock has gained 0.66%. Arrow Electronics Inc. shares have risen nearly 21.64% since the year began. Nevertheless, the stocks have risen 28.33% over the past one year. While a 52-week high of $147.42 was reached on 07/12/23, a 52-week low of $89.38 was recorded on 01/03/23. SMA at 50 days reached $134.02, while 200 days put it at $123.16. A total of 0.77 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For ARW Stock
The 24-hour chart illustrates a support level at 126.10, which if violated will result in even more drops to 125.00. On the upside, there is a resistance level at 128.46. A further resistance level may holdings at 129.71. The Relative Strength Index (RSI) on the 14-day chart is 41.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.31%. Stochastics %K at 19.76% indicates the stock is a buying.
How much short interest is there in Arrow Electronics Inc.?
A steep rise in short interest was recorded in Arrow Electronics Inc. stocks on Aug 30, 2023, dropping by 30000.0 shares to a total of 1.22 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 1.25 million shares. There was a decline of -2.46%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.21% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.05.
Arrow Electronics Inc. [ARW] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 6,297,001 shares, or roughly 11.31% of the outstanding ARW shares. In other words, the investor’s shares have fallen by -167,272 from its previous 13-F filing of 6464273.0. Additionally, BlackRock Fund Advisors increased 3.52% of its stake after which the total value it holdings stand at $797,108,552, while LSV Asset Management reduced -2.12% of its stake to hold $349.58 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -180,291 shares of Arrow Electronics Inc., while Dimensional Fund Advisors LP sold -63,785 shares. At present, Cooke & Bieler LP is holding 2,309,357 shares valued at $308.14 million. AQR Capital Management LLC owned 1,913,435 shares of the company at the time of its most recent 13F filing, worth $255.31 million.
According to FactSet, Arrow Electronics Inc.’s share price will average $131.17 in the next year, based on opinions of analysts polled by the firm. This is up nearly 3.16 percent from its previous closing price of $127.96. Analysts expect Arrow Electronics Inc. stock to reach the higher price of $150.00, while the lowest price estimate is $100.00. However, 8 analysts have rated ARW stock as a Hold in their predictions for 2023.