ARRIS International PLC (ARRS) Stake Lowered by Emerald Advisers Inc. PA

Emerald Advisers Inc. PA lowered its stake in ARRIS International PLC (NASDAQ:ARRS) by 78.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,561 shares of the communications equipment provider’s stock after selling 87,279 shares during the period. Emerald Advisers Inc. PA’s holdings in ARRIS International PLC were worth $688,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in ARRIS International PLC by 2.8% in the first quarter. State Street Corp now owns 4,761,965 shares of the communications equipment provider’s stock valued at $125,954,000 after buying an additional 129,725 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ARRIS International PLC by 60.0% in the first quarter. Ameriprise Financial Inc. now owns 4,501,258 shares of the communications equipment provider’s stock valued at $119,058,000 after buying an additional 1,687,326 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ARRIS International PLC by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,101,064 shares of the communications equipment provider’s stock valued at $55,573,000 after buying an additional 73,140 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of ARRIS International PLC by 1.2% in the first quarter. Neuberger Berman Group LLC now owns 2,023,368 shares of the communications equipment provider’s stock valued at $53,518,000 after buying an additional 24,743 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of ARRIS International PLC by 22.4% in the second quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock valued at $53,518,000 after buying an additional 350,000 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

ARRIS International PLC (ARRS) traded down 1.41% during trading on Friday, hitting $26.66. The stock had a trading volume of 830,218 shares. The stock’s 50 day moving average price is $27.84 and its 200 day moving average price is $27.46. The firm has a market cap of $5.00 billion, a P/E ratio of 40.27 and a beta of 1.31. ARRIS International PLC has a 12-month low of $24.75 and a 12-month high of $31.52.

ARRIS International PLC (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, analysts anticipate that ARRIS International PLC will post $2.54 EPS for the current fiscal year.

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ARRS has been the topic of several research analyst reports. TheStreet lowered ARRIS International PLC from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $33.00 price objective on shares of ARRIS International PLC in a report on Sunday, April 23rd. BTIG Research initiated coverage on ARRIS International PLC in a report on Thursday, June 15th. They issued a “buy” rating and a $38.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $34.00 price objective on shares of ARRIS International PLC in a report on Friday, May 5th. Finally, Zacks Investment Research raised ARRIS International PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.90.

In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total transaction of $378,270.00. Following the sale, the insider now owns 9,127 shares in the company, valued at approximately $273,810. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Potts sold 2,502 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total value of $69,230.34. Following the sale, the executive vice president now owns 90,592 shares in the company, valued at approximately $2,506,680.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,255 shares of company stock worth $676,591. 1.20% of the stock is owned by insiders.

ARRIS International PLC Company Profile

ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.

Institutional Ownership by Quarter for ARRIS International PLC (NASDAQ:ARRS)

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