Bank of New York Mellon Corp lowered its stake in shares of ARRIS International PLC (NASDAQ:ARRS) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,071,326 shares of the communications equipment provider’s stock after selling 29,738 shares during the period. Bank of New York Mellon Corp owned 1.10% of ARRIS International PLC worth $58,038,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Tyers Asset Management LLC increased its stake in shares of ARRIS International PLC by 7.4% in the first quarter. Tyers Asset Management LLC now owns 5,792 shares of the communications equipment provider’s stock valued at $153,000 after buying an additional 400 shares during the period. Delta Capital Management LLC purchased a new stake in shares of ARRIS International PLC during the second quarter valued at $210,000. Elkfork Partners LLC increased its stake in shares of ARRIS International PLC by 7.4% in the first quarter. Elkfork Partners LLC now owns 7,964 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 550 shares during the period. Cortina Asset Management LLC increased its stake in shares of ARRIS International PLC by 9.5% in the first quarter. Cortina Asset Management LLC now owns 8,277 shares of the communications equipment provider’s stock valued at $219,000 after buying an additional 715 shares during the period. Finally, Bellwether Investment Group LLC increased its stake in shares of ARRIS International PLC by 10.6% in the first quarter. Bellwether Investment Group LLC now owns 8,665 shares of the communications equipment provider’s stock valued at $229,000 after buying an additional 830 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Shares of ARRIS International PLC (NASDAQ ARRS) opened at 27.97 on Friday. The company has a market cap of $5.25 billion, a P/E ratio of 42.25 and a beta of 1.30. ARRIS International PLC has a 52-week low of $24.75 and a 52-week high of $31.52. The firm has a 50-day moving average of $27.63 and a 200-day moving average of $27.34.

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

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Several brokerages recently weighed in on ARRS. BTIG Research began coverage on shares of ARRIS International PLC in a research report on Thursday, June 15th. They set a “buy” rating and a $38.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $34.00 price target on shares of ARRIS International PLC in a research report on Thursday, June 8th. Zacks Investment Research downgraded shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub downgraded shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Northland Securities reissued a “hold” rating and set a $24.00 price target on shares of ARRIS International PLC in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $32.90.

In other ARRIS International PLC news, EVP David Potts sold 2,502 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total transaction of $69,230.34. Following the transaction, the executive vice president now owns 90,592 shares in the company, valued at approximately $2,506,680.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen J. Mccaffery sold 12,609 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $30.00, for a total transaction of $378,270.00. Following the transaction, the insider now owns 9,127 shares in the company, valued at approximately $273,810. The disclosure for this sale can be found here. Insiders have sold a total of 23,255 shares of company stock worth $676,591 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

About ARRIS International PLC

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

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