ARRIS International Sees Unusually High Options Volume (ARRS)

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ARRIS International plc (NASDAQ:ARRS) saw some unusual options trading activity on Thursday. Stock traders purchased 1,175 call options on the company. This represents an increase of approximately 1,111% compared to the typical daily volume of 97 call options.

A number of research analysts recently issued reports on ARRS shares. ValuEngine downgraded shares of ARRIS International from a “sell” rating to a “strong sell” rating in a report on Monday, July 30th. BidaskClub downgraded shares of ARRIS International from a “sell” rating to a “strong sell” rating in a report on Thursday, May 24th. Wells Fargo & Co assumed coverage on shares of ARRIS International in a report on Thursday, July 12th. They set an “outperform” rating and a $32.00 price objective on the stock. Goldman Sachs Group downgraded shares of ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 price objective on the stock. in a report on Wednesday, June 20th. Finally, Northland Securities restated a “hold” rating and set a $23.00 price objective on shares of ARRIS International in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $31.33.

ARRS opened at $26.13 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 1.59. ARRIS International has a 1-year low of $22.33 and a 1-year high of $30.00. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.19.

ARRIS International (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.02). ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts anticipate that ARRIS International will post 2.59 earnings per share for the current year.

In related news, EVP David Potts sold 2,848 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $25.90, for a total transaction of $73,763.20. Following the transaction, the executive vice president now owns 99,167 shares in the company, valued at approximately $2,568,425.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Philip Charles Baldock sold 1,394 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $25.47, for a total transaction of $35,505.18. Following the transaction, the senior vice president now owns 12,691 shares in the company, valued at approximately $323,239.77. The disclosure for this sale can be found here. Insiders have purchased a total of 5,040 shares of company stock worth $120,666 in the last quarter. 0.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of ARRIS International by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 759,298 shares of the communications equipment provider’s stock worth $20,175,000 after acquiring an additional 8,672 shares in the last quarter. Hartford Investment Management Co. bought a new stake in shares of ARRIS International in the 2nd quarter worth $305,000. First Republic Investment Management Inc. grew its stake in shares of ARRIS International by 10.7% in the 1st quarter. First Republic Investment Management Inc. now owns 183,760 shares of the communications equipment provider’s stock worth $4,882,000 after acquiring an additional 17,732 shares in the last quarter. Rock Point Advisors LLC bought a new stake in shares of ARRIS International in the 1st quarter worth $4,518,000. Finally, New York State Common Retirement Fund grew its stake in shares of ARRIS International by 15.8% in the 1st quarter. New York State Common Retirement Fund now owns 1,255,643 shares of the communications equipment provider’s stock worth $33,362,000 after acquiring an additional 170,856 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

About ARRIS International

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.

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