Parametric Portfolio Associates LLC boosted its stake in shares of ARRIS International PLC (NASDAQ:ARRS) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,490 shares of the communications equipment provider’s stock after purchasing an additional 22,352 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.07% of ARRIS International PLC worth $3,712,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Delta Capital Management LLC bought a new position in ARRIS International PLC during the second quarter worth $210,000. NGAM Advisors L.P. boosted its position in ARRIS International PLC by 4.6% during the second quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock worth $313,000 after purchasing an additional 489 shares during the period. Fernwood Investment Management LLC boosted its position in ARRIS International PLC by 16.9% during the second quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock worth $387,000 after purchasing an additional 2,000 shares during the period. LS Investment Advisors LLC boosted its position in ARRIS International PLC by 16.4% during the second quarter. LS Investment Advisors LLC now owns 14,696 shares of the communications equipment provider’s stock worth $412,000 after purchasing an additional 2,072 shares during the period. Finally, Capstone Asset Management Co. boosted its position in ARRIS International PLC by 0.3% during the second quarter. Capstone Asset Management Co. now owns 15,751 shares of the communications equipment provider’s stock worth $441,000 after purchasing an additional 40 shares during the period. 86.77% of the stock is owned by hedge funds and other institutional investors.
In other 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 completion of the transaction, the insider now owns 9,127 shares in the company, valued at approximately $273,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.
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ARRS has been the subject of a number of research analyst reports. BidaskClub cut shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC set a $38.00 price objective on shares of ARRIS International PLC and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Northland Securities reaffirmed a “hold” rating and set a $24.00 price objective on shares of ARRIS International PLC in a research report on Thursday, August 3rd. ValuEngine cut shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $33.38.
Shares of ARRIS International PLC (NASDAQ:ARRS) opened at 28.22 on Tuesday. ARRIS International PLC has a 12 month low of $24.75 and a 12 month high of $31.52. The stock has a 50 day moving average of $28.10 and a 200-day moving average of $27.77. The company has a market cap of $5.29 billion, a PE ratio of 42.63 and a beta of 1.33.
ARRIS International PLC (NASDAQ:ARRS) last announced its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm posted $0.84 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that ARRIS International PLC will post $2.53 earnings per share for the current year.
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.
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