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Arrow Electronics Inc. (ARW) gets rating Downgrade from Wells Fargo

Arrow Electronics Inc.’s recent filing unveils that its SVP, CLO & Secretary Jean-Claude Carine Lamercie unloaded Company’s shares for reported $0.18 million on Mar 05 ’24. In the deal valued at $121.00 per share,1,495 shares were sold. As a result of this transaction, Jean-Claude Carine Lamercie now holds 15,271 shares worth roughly $1.95 million.

Then, Marano Richard John sold 1,900 shares, generating $221,274 in total proceeds. Upon selling the shares at $116.46, the President, Global Components now owns 12,108 shares.

Before that, Cho Yun Sung sold 739 shares. Arrow Electronics Inc. shares valued at $86,626 were divested by the VP, Corp. Cont., & CAO at a price of $117.22 per share. As a result of the transaction, Cho Yun Sung now holds 1,389 shares, worth roughly $0.18 million.

Wells Fargo downgraded its Arrow Electronics Inc. [ARW] rating to an Underweight from a an Equal weight in a research note published on September 16, 2022; the price target was decreased to $87 from $125. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in early February from “a Mkt perform” to “an Outperform”. BofA/Merrill revised its rating on April 28, 2020. It rated ARW as “a Neutral” which previously was an “an Underperform”.

Price Performance Review of ARW

On Tuesday, Arrow Electronics Inc. [NYSE:ARW] saw its stock fall -0.86% to $127.67. Over the last five days, the stock has gained 2.12%. Arrow Electronics Inc. shares have risen nearly 4.43% since the year began. Nevertheless, the stocks have risen 11.57% over the past one year. While a 52-week high of $147.42 was reached on 04/04/24, a 52-week low of $108.51 was recorded on 02/13/24. SMA at 50 days reached $122.92, while 200 days put it at $122.69. A total of 0.78 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For ARW Stock

The 24-hour chart illustrates a support level at 126.89, which if violated will result in even more drops to 126.10. On the upside, there is a resistance level at 128.76. A further resistance level may holdings at 129.84. The Relative Strength Index (RSI) on the 14-day chart is 58.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.11, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 24.16%. Stochastics %K at 85.79% indicates the stock is a selling.

The most recent change occurred on April 24, 2020 when Loop Capital began covering the stock and recommended ‘”a Buy”‘ rating along with a $80 price target.

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