California State Teachers Retirement System trimmed its position in ARRIS International plc (NASDAQ:ARRS) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,021 shares of the communications equipment provider’s stock after selling 36,453 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of ARRIS International worth $8,434,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of ARRIS International in the second quarter worth approximately $233,000. Crossmark Global Holdings Inc. bought a new position in shares of ARRIS International in the third quarter worth approximately $473,000. Quantbot Technologies LP bought a new position in shares of ARRIS International in the third quarter worth approximately $514,000. Meeder Asset Management Inc. grew its position in ARRIS International by 38.8% during 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 last quarter. Finally, Amalgamated Bank grew its position in ARRIS International by 18.3% during 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 last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on ARRS. ValuEngine upgraded shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub upgraded shares of ARRIS International from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 27th. TheStreet upgraded shares of ARRIS International from a “c+” rating to a “b” rating in a report on Monday, October 9th. Northland Securities set a $25.00 price target on ARRIS International and gave the stock a “hold” rating in a research note on Monday, October 16th. Finally, Zacks Investment Research lowered ARRIS International from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $33.00.
In related news, SVP Patrick W. Macken sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $29.26, for a total value of $36,575.00. Following the transaction, the senior vice president now directly owns 4,556 shares of the company’s stock, valued at approximately $133,308.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Philip Charles Baldock sold 4,930 shares of the business’s 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 directly owns 13,529 shares in the company, valued at $353,242.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,347 shares of company stock valued at $290,307. Corporate insiders own 0.90% of the company’s stock.
ARRIS International plc (NASDAQ ARRS) opened at $25.51 on Friday. ARRIS International plc has a twelve month low of $24.75 and a twelve month high of $30.79. The firm has a market capitalization of $4,760.00, a price-to-earnings ratio of 29.32, a PEG ratio of 0.99 and a beta of 1.40. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.65.
ARRIS International (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.62 by $0.18. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. ARRIS International had a return on equity of 14.02% and a net margin of 2.51%. ARRIS International’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. sell-side analysts anticipate that ARRIS International plc will post 2.32 EPS for the current fiscal year.
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ARRIS International Company 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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