Cubist Systematic Strategies LLC lessened its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 43.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,962 shares of the technology company’s stock after selling 13,650 shares during the period. Cubist Systematic Strategies LLC’s holdings in Arrow Electronics were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of Arrow Electronics by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the technology company’s stock valued at $1,784,000 after acquiring an additional 700 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Arrow Electronics by 1.6% during the first quarter. Mason Street Advisors LLC now owns 44,054 shares of the technology company’s stock valued at $3,393,000 after acquiring an additional 713 shares in the last quarter. US Bancorp DE increased its holdings in Arrow Electronics by 7.1% during the first quarter. US Bancorp DE now owns 10,889 shares of the technology company’s stock valued at $838,000 after buying an additional 725 shares during the period. Boyer & Corporon Wealth Management LLC increased its holdings in Arrow Electronics by 1.9% during the first quarter. Boyer & Corporon Wealth Management LLC now owns 38,010 shares of the technology company’s stock valued at $2,928,000 after buying an additional 727 shares during the period. Finally, Alpha Windward LLC increased its holdings in Arrow Electronics by 11.1% during the second quarter. Alpha Windward LLC now owns 7,347 shares of the technology company’s stock valued at $553,000 after buying an additional 734 shares during the period. 92.81% of the stock is owned by hedge funds and other institutional investors.

Shares of ARW stock opened at $76.58 on Tuesday. The company has a market cap of $6.59 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.69. Arrow Electronics, Inc. has a 52-week low of $72.31 and a 52-week high of $87.26.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.05. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.25 billion. Arrow Electronics had a net margin of 1.72% and a return on equity of 14.81%. Arrow Electronics’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. sell-side analysts anticipate that Arrow Electronics, Inc. will post 8.88 earnings per share for the current fiscal year.

In other Arrow Electronics news, insider Vincent P. Melvin sold 2,000 shares of Arrow Electronics stock in a transaction on Monday, August 20th. The shares were sold at an average price of $78.10, for a total value of $156,200.00. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at $1,278,575.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gretchen Zech sold 4,500 shares of Arrow Electronics stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $77.00, for a total transaction of $346,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,814 shares in the company, valued at $1,679,678. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

ARW has been the topic of several research reports. Zacks Investment Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Monday, May 21st. Pivotal Research set a $98.00 price objective on shares of Arrow Electronics and gave the company a “buy” rating in a report on Monday, May 28th. ValuEngine lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, Wells Fargo & Co initiated coverage on shares of Arrow Electronics in a report on Tuesday, July 17th. They set an “outperform” rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Arrow Electronics presently has a consensus rating of “Buy” and an average price target of $88.17.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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