New Mexico Educational Retirement Board acquired a new stake in shares of ARRIS International plc (NASDAQ:ARRS) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 43,672 shares of the communications equipment provider’s stock, valued at approximately $1,122,000.
Other institutional investors and hedge funds have also modified their holdings of the company. FNY Partners Fund LP bought a new position in ARRIS International during the fourth quarter valued at approximately $100,000. Icon Advisers Inc. Co. bought a new position in ARRIS International during the fourth quarter valued at approximately $206,000. Oakbrook Investments LLC bought a new position in ARRIS International during the fourth quarter valued at approximately $361,000. Crossmark Global Holdings Inc. bought a new position in ARRIS International during the third quarter valued at approximately $473,000. Finally, Quantbot Technologies LP bought a new position in ARRIS International during the third quarter valued at approximately $514,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Robert J. Stanzione purchased 4,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were bought at an average price of $25.55 per share, with a total value of $102,200.00. Following the completion of the transaction, the chairman now directly owns 862,697 shares in the company, valued at approximately $22,041,908.35. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Debora J. Wilson purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average cost of $25.17 per share, for a total transaction of $50,340.00. Following the transaction, the director now owns 41,050 shares of the company’s stock, valued at $1,033,228.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 8,000 shares of company stock worth $204,360. Insiders own 0.90% of the company’s stock.
ARRS has been the topic of several recent research reports. Loop Capital initiated coverage on shares of ARRIS International in a research report on Monday, January 29th. They set a “buy” rating and a $35.00 price objective on the stock. Raymond James Financial set a $38.00 price objective on shares of ARRIS International and gave the company a “buy” rating in a research report on Monday, December 4th. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, November 7th. Finally, TheStreet lowered shares of ARRIS International from a “b” rating to a “c+” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. ARRIS International currently has an average rating of “Hold” and a consensus price target of $33.20.
ARRIS International plc (NASDAQ ARRS) opened at $24.91 on Friday. ARRIS International plc has a 52-week low of $22.60 and a 52-week high of $30.38. The company has a market cap of $4,660.00, a P/E ratio of 50.82, a PEG ratio of 0.97 and a beta of 1.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.08.
ARRIS International (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, February 14th. The communications equipment provider reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.12. ARRIS International had a net margin of 1.41% and a return on equity of 14.69%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. sell-side analysts forecast that ARRIS International plc will post 2.54 EPS for the current 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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