LPL Financial LLC Buys 2,475 Shares of Arrow Electronics, Inc. (NYSE:ARW)

Key Points

• LPL Financial LLC increased its stake in Arrow Electronics by 7.8%, owning a total of 34,386 shares valued at approximately $3.57 million.
• In its latest quarterly earnings report, Arrow Electronics posted an EPS of $2.43, surpassing analysts' expectations of $2.03, and reported a revenue increase of 10% year-over-year, totaling $7.58 billion.
• CEO Sean J. Kerins bought 8,630 shares at an average price of $114.91, increasing his ownership by 7.58%, while other insiders also engaged in share transactions recently.

LPL Financial LLC raised its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 7.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,386 shares of the technology company's stock after purchasing an additional 2,475 shares during the period. LPL Financial LLC owned approximately 0.07% of Arrow Electronics worth $3,570,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Arrow Electronics in the 1st quarter valued at $120,000. Lindbrook Capital LLC raised its stake in shares of Arrow Electronics by 300.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,550 shares of the technology company's stock valued at $161,000 after buying an additional 1,163 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in shares of Arrow Electronics in the 1st quarter valued at $203,000. Finally, Fulton Bank N.A. raised its stake in shares of Arrow Electronics by 6.4% in the 1st quarter. Fulton Bank N.A. now owns 2,026 shares of the technology company's stock valued at $210,000 after buying an additional 122 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Arrow Electronics Trading Down 1.7%

ARW opened at $123.77 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $6.37 billion, a PE ratio of 14.00, a PEG ratio of 0.60 and a beta of 1.10. Arrow Electronics, Inc. has a 1-year low of $86.50 and a 1-year high of $137.80. The firm has a 50-day moving average price of $126.37 and a two-hundred day moving average price of $115.52.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.03 by $0.40. Arrow Electronics had a net margin of 1.64% and a return on equity of 8.37%. The company had revenue of $7.58 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the previous year, the company earned $2.78 EPS. Arrow Electronics's revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a report on Monday, June 9th. Wall Street Zen upgraded shares of Arrow Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Arrow Electronics has a consensus rating of "Hold" and an average price target of $115.75.

Insider Activity at Arrow Electronics

In other news, CEO Sean J. Kerins acquired 8,630 shares of Arrow Electronics stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $114.91 per share, with a total value of $991,673.30. Following the purchase, the chief executive officer directly owned 122,408 shares of the company's stock, valued at $14,065,903.28. The trade was a 7.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total transaction of $331,542.40. Following the transaction, the senior vice president directly owned 17,057 shares in the company, valued at $2,125,984.48. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Arrow Electronics Company Profile

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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