Investors Buy Large Volume of Put Options on ARRIS International (ARRS)

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ARRIS International plc (NASDAQ:ARRS) was the target of unusually large options trading activity on Thursday. Traders purchased 4,152 put options on the company. This is an increase of 2,144% compared to the average daily volume of 185 put options.

ARRS has been the topic of several recent research reports. ValuEngine raised shares of ARRIS International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Raymond James lowered shares of ARRIS International from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $36.00 to $29.00 in a research report on Monday, October 15th. Wells Fargo & Co lowered shares of ARRIS International from an “outperform” rating to a “market perform” rating in a research report on Thursday. Goldman Sachs Group raised shares of ARRIS International from a “sell” rating to a “neutral” rating and set a $30.50 price objective on the stock in a research report on Thursday. Finally, Royal Bank of Canada lowered shares of ARRIS International from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.21.

Shares of ARRS opened at $30.72 on Friday. The company has a market cap of $4.50 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. 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 twelve month low of $21.55 and a twelve month high of $30.90.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 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 down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. Analysts predict that ARRIS International will post 2.59 earnings per share for the current year.

In related news, CEO Bruce William Mcclelland purchased 1,500 shares of ARRIS International stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $24.08 per share, with a total value of $36,120.00. Following the completion of the transaction, the chief executive officer now directly owns 242,256 shares of the company’s stock, valued at $5,833,524.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. First Hawaiian Bank acquired a new position in ARRIS International during the third quarter valued at approximately $140,000. Delphi Management Inc. MA acquired a new position in ARRIS International during the second quarter valued at approximately $212,000. Hartford Investment Management Co. acquired a new position in ARRIS International during the second quarter valued at approximately $305,000. Commonwealth Bank of Australia acquired a new position in ARRIS International during the third quarter valued at approximately $499,000. Finally, Oakbrook Investments LLC grew its holdings in ARRIS International by 31.7% during the third quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors own 87.56% of the company’s stock.

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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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