Earnest Partners LLC cut its holdings in shares of ARRIS International plc (NASDAQ:ARRS) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 556,515 shares of the communications equipment provider’s stock after selling 34,767 shares during the quarter. Earnest Partners LLC’s holdings in ARRIS International were worth $13,604,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Cerebellum GP LLC raised its holdings in ARRIS International by 163.9% during the second quarter. Cerebellum GP LLC now owns 6,913 shares of the communications equipment provider’s stock valued at $169,000 after acquiring an additional 4,293 shares during the period. Parametrica Management Ltd bought a new stake in ARRIS International during the first quarter valued at about $227,000. M&T Bank Corp bought a new stake in ARRIS International during the first quarter valued at about $231,000. Levin Capital Strategies L.P. bought a new stake in ARRIS International during the first quarter valued at about $266,000. Finally, PNC Financial Services Group Inc. raised its holdings in ARRIS International by 37.5% during the first quarter. PNC Financial Services Group Inc. now owns 12,045 shares of the communications equipment provider’s stock valued at $320,000 after acquiring an additional 3,287 shares during the period. 87.27% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on ARRS. ValuEngine lowered ARRIS International from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 21st. Wells Fargo & Co began coverage on ARRIS International in a research report on Thursday, July 12th. They set an “outperform” rating and a $32.00 price objective for the company. Goldman Sachs Group lowered ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 price objective for the company. in a research report on Wednesday, June 20th. Northland Securities restated a “hold” rating and set a $23.00 price objective on shares of ARRIS International in a research report on Thursday, August 2nd. Finally, BidaskClub lowered ARRIS International from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. ARRIS International currently has an average rating of “Hold” and a consensus target price of $31.33.
In related news, CEO Bruce William Mcclelland purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average price of $24.08 per share, for a total transaction of $36,120.00. Following the completion of the transaction, the chief executive officer now owns 242,256 shares in the company, valued at approximately $5,833,524.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Philip Charles Baldock sold 1,394 shares of ARRIS International stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $25.47, for a total value of $35,505.18. Following the completion of the transaction, the senior vice president now owns 12,691 shares of the company’s stock, valued at approximately $323,239.77. The disclosure for this sale can be found here. In the last quarter, insiders purchased 5,040 shares of company stock valued at $120,666. 0.90% of the stock is currently owned by company insiders.
Shares of ARRIS International stock opened at $25.59 on Friday. The stock has a market cap of $4.61 billion, a PE ratio of 9.02, a PEG ratio of 1.52 and a beta of 1.25. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.67. ARRIS International plc has a twelve month low of $22.33 and a twelve month high of $30.00.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. analysts anticipate that ARRIS International plc will post 2.59 earnings per share for the current fiscal year.
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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