Public Employees Retirement System of Ohio raised its stake in ARRIS International plc (NASDAQ:ARRS) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,308 shares of the communications equipment provider’s stock after acquiring an additional 8,301 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of ARRIS International worth $3,684,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in ARRIS International by 18.3% in the second quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock valued at $995,000 after acquiring an additional 5,488 shares during the period. New York State Common Retirement Fund lifted its holdings in ARRIS International by 0.6% in the third quarter. New York State Common Retirement Fund now owns 1,234,560 shares of the communications equipment provider’s stock valued at $35,173,000 after acquiring an additional 7,610 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new position in ARRIS International in the second quarter valued at about $233,000. Meeder Asset Management Inc. lifted its holdings in ARRIS International by 38.8% in the third quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock valued at $865,000 after acquiring an additional 8,496 shares during the period. Finally, Hallmark Capital Management Inc. lifted its holdings in ARRIS International by 2.6% in the third quarter. Hallmark Capital Management Inc. now owns 484,015 shares of the communications equipment provider’s stock valued at $13,790,000 after acquiring an additional 12,165 shares during the period. 86.51% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ARRS. BidaskClub downgraded ARRIS International from a “sell” rating to a “strong sell” rating in a report on Saturday. Raymond James Financial set a $38.00 target price on ARRIS International and gave the company a “buy” rating in a report on Monday, December 4th. ValuEngine raised ARRIS International from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northland Securities set a $25.00 price objective on ARRIS International and gave the stock a “hold” rating in a research note on Monday, October 16th. Finally, Morgan Stanley downgraded ARRIS International from an “overweight” rating to an “equal weight” rating and set a $31.00 price objective on the stock. in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. ARRIS International has a consensus rating of “Hold” and a consensus target price of $33.00.
ARRIS International plc (NASDAQ ARRS) opened at $25.49 on Friday. The firm has a market capitalization of $4,770.00, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 0.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83. ARRIS International plc has a 1-year low of $24.75 and a 1-year high of $30.79.
ARRIS International (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.18. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. ARRIS International had a return on equity of 14.02% and a net margin of 2.51%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. equities research analysts expect that ARRIS International plc will post 2.32 earnings per share for the current fiscal year.
In other news, SVP Philip Charles Baldock sold 4,930 shares of ARRIS International stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $26.11, for a total value of $128,722.30. Following the completion of the transaction, the senior vice president now owns 13,529 shares in the company, valued at approximately $353,242.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lawrence Robinson sold 4,167 shares of ARRIS International stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $30.00, for a total value of $125,010.00. Following the completion of the transaction, the insider now owns 71,721 shares of the company’s stock, valued at approximately $2,151,630. The disclosure for this sale can be found here. Insiders have sold a total of 10,347 shares of company stock valued at $290,307 in the last 90 days. 0.90% of the stock is currently owned by company insiders.
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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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