Can a polynomial sized arithmetic ciruits perform integer division?
See Eric Allender's survey of "recent" breakthroughs (circa more than a decade ago) in the complexity of division. The bottom line is that 


  Division is complete for DLOGTIME-uniform $\mathsf{TC}^0$


so in particular there is a poly-sized circuit (of constant depth) that takes $x$ and $y$ as input and produces $x/y$. Notice that this circuit doesn't even need to be arithmetic (it only needs MAJORITY gates in addition to boolean gates)