ARRIS International plc (ARRS) Shares Bought by Rhumbline Advisers
Rhumbline Advisers boosted its holdings in ARRIS International plc (NASDAQ:ARRS) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 334,758 shares of the communications equipment provider’s stock after acquiring an additional 12,908 shares during the period. Rhumbline Advisers owned 0.18% of ARRIS International worth $9,537,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of ARRS. Ameriprise Financial Inc. raised its stake in ARRIS International by 16.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,244,590 shares of the communications equipment provider’s stock valued at $146,962,000 after acquiring an additional 743,332 shares during the period. Russell Investments Group Ltd. raised its stake in ARRIS International by 76.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 885,606 shares of the communications equipment provider’s stock valued at $24,815,000 after acquiring an additional 383,039 shares during the period. Strs Ohio raised its stake in ARRIS International by 22.4% in the 2nd quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock valued at $53,518,000 after acquiring an additional 350,000 shares during the period. Quantitative Investment Management LLC bought a new stake in ARRIS International in the 2nd quarter valued at $7,428,000. Finally, Canada Pension Plan Investment Board raised its stake in ARRIS International by 33.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 902,100 shares of the communications equipment provider’s stock valued at $25,701,000 after acquiring an additional 224,000 shares during the period. Institutional investors and hedge funds own 87.02% of the company’s stock.
A number of research analysts have commented on the company. Northland Securities reaffirmed a “hold” rating and issued a $24.00 price objective on shares of ARRIS International in a report on Thursday, August 3rd. Zacks Investment Research raised ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday, August 7th. BidaskClub lowered ARRIS International from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine lowered ARRIS International from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Jefferies Group LLC set a $38.00 price objective on ARRIS International and gave the company a “buy” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. ARRIS International presently has an average rating of “Buy” and a consensus price target of $33.38.
In other news, SVP Patrick W. Macken sold 1,250 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $29.26, for a total transaction of $36,575.00. Following the sale, the senior vice president now directly owns 4,556 shares of the company’s stock, valued at approximately $133,308.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
ARRIS International plc (NASDAQ ARRS) opened at $29.10 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. ARRIS International plc has a 1-year low of $24.75 and a 1-year high of $31.52. The company has a market capitalization of $5,442.31, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.39.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. ARRIS International had a return on equity of 11.25% and a net margin of 5.02%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts predict that ARRIS International plc will post 2.31 earnings per share for the current year.
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ARRIS International 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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