UBS Oconnor LLC purchased a new position in ARRIS International PLC (NASDAQ:ARRS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the communications equipment provider’s stock, valued at approximately $1,401,000.

Several other hedge funds have also bought and sold shares of ARRS. UBS Asset Management Americas Inc. lifted its holdings in shares of ARRIS International PLC by 26.7% during the first quarter. UBS Asset Management Americas Inc. now owns 114,536 shares of the communications equipment provider’s stock valued at $3,029,000 after purchasing an additional 24,165 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of ARRIS International PLC during the first quarter valued at $510,000. Parametric Portfolio Associates LLC boosted its position in shares of ARRIS International PLC by 10.9% during the first quarter. Parametric Portfolio Associates LLC now owns 110,138 shares of the communications equipment provider’s stock valued at $2,913,000 after buying an additional 10,801 shares during the last quarter. Cortina Asset Management LLC boosted its position in shares of ARRIS International PLC by 9.5% during 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 last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of ARRIS International PLC by 57.8% during the first quarter. OppenheimerFunds Inc. now owns 63,995 shares of the communications equipment provider’s stock valued at $1,693,000 after buying an additional 23,434 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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

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Shares of ARRIS International PLC (ARRS) traded down 0.10% on Tuesday, hitting $29.00. 24,892 shares of the stock traded hands. The stock has a 50 day moving average of $27.51 and a 200 day moving average of $27.49. ARRIS International PLC has a one year low of $24.75 and a one year high of $31.52. The company has a market cap of $5.44 billion, a PE ratio of 43.81 and a beta of 1.33.

ARRIS International PLC (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.67 billion during 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%. During the same quarter in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts anticipate that ARRIS International PLC will post $2.54 earnings per share for the current year.

ARRS has been the subject of several research analyst reports. ValuEngine upgraded ARRIS International PLC from a “hold” rating to a “buy” rating in a report on Monday. BTIG Research assumed coverage on shares of ARRIS International PLC in a research note on Thursday, June 15th. They set a “buy” rating and a $38.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and set a $34.00 target price on shares of ARRIS International PLC in a research note on Thursday, June 8th. Zacks Investment Research cut shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $32.75.

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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