New York State Common Retirement Fund Has $33.36 Million Stake in ARRIS International plc (ARRS)

New York State Common Retirement Fund grew its position in ARRIS International plc (NASDAQ:ARRS) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,255,643 shares of the communications equipment provider’s stock after purchasing an additional 170,856 shares during the period. New York State Common Retirement Fund owned about 0.68% of ARRIS International worth $33,362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of ARRIS International by 2.9% in the first quarter. BlackRock Inc. now owns 14,930,731 shares of the communications equipment provider’s stock valued at $396,711,000 after purchasing an additional 419,716 shares during the last quarter. Lyrical Asset Management LP raised its holdings in shares of ARRIS International by 4.9% in the fourth quarter. Lyrical Asset Management LP now owns 5,212,711 shares of the communications equipment provider’s stock valued at $133,915,000 after purchasing an additional 245,020 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of ARRIS International by 6.5% in the first quarter. Thompson Siegel & Walmsley LLC now owns 4,229,290 shares of the communications equipment provider’s stock valued at $112,372,000 after purchasing an additional 256,680 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of ARRIS International by 2.0% in the first quarter. Wells Fargo & Company MN now owns 3,285,071 shares of the communications equipment provider’s stock valued at $87,283,000 after purchasing an additional 65,509 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ARRIS International by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,710,331 shares of the communications equipment provider’s stock valued at $43,937,000 after purchasing an additional 86,189 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

ARRIS International traded up $0.10, reaching $24.71, during trading hours on Monday, according to Marketbeat Ratings. 1,541,864 shares of the company were exchanged, compared to its average volume of 1,481,024. The company has a market capitalization of $4.58 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 1.65. ARRIS International plc has a 1 year low of $22.60 and a 1 year high of $30.38.

ARRIS International (NASDAQ:ARRS) last posted its earnings results on Tuesday, May 1st. The communications equipment provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.20. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. ARRIS International had a net margin of 1.77% and a return on equity of 16.38%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. analysts forecast that ARRIS International plc will post 2.69 EPS for the current fiscal year.

ARRIS International declared that its board has approved a share repurchase plan on Thursday, March 22nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, SVP James R. Brennan sold 10,000 shares of ARRIS International stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $27.39, for a total value of $273,900.00. Following the completion of the transaction, the senior vice president now owns 7,534 shares in the company, valued at $206,356.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Philip Charles Baldock sold 1,304 shares of ARRIS International stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $26.30, for a total transaction of $34,295.20. Following the completion of the transaction, the senior vice president now owns 11,207 shares of the company’s stock, valued at approximately $294,744.10. The disclosure for this sale can be found here. Insiders sold 19,914 shares of company stock valued at $535,476 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Several brokerages have recently commented on ARRS. Barclays reiterated an “equal weight” rating and issued a $31.00 target price on shares of ARRIS International in a report on Thursday, March 22nd. BidaskClub upgraded shares of ARRIS International from a “sell” rating to a “hold” rating in a report on Friday, March 9th. ValuEngine downgraded shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Goldman Sachs Group downgraded shares of ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Wednesday, June 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.50.

ARRIS International Profile

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments: Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

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

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