Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of ARRIS Group Inc. (NASDAQ:ARRS) by 20.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,358 shares of the communications equipment provider’s stock after selling 3,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ARRIS Group were worth $302,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new stake in shares of ARRIS Group during the fourth quarter valued at $100,000. Icon Advisers Inc. Co. purchased a new stake in shares of ARRIS Group during the fourth quarter valued at $206,000. Capital Fund Management S.A. boosted its position in shares of ARRIS Group by 25.5% during the fourth quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock valued at $316,000 after buying an additional 2,500 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in shares of ARRIS Group during the fourth quarter valued at $361,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of ARRIS Group by 27.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 21,163 shares of the communications equipment provider’s stock valued at $544,000 after buying an additional 4,572 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.
Shares of ARRIS Group opened at $26.35 on Monday, MarketBeat Ratings reports. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.01 and a beta of 1.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 1.65. ARRIS Group Inc. has a 52-week low of $22.60 and a 52-week high of $30.38.
ARRIS Group (NASDAQ:ARRS) last announced its earnings results on Tuesday, May 1st. The communications equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.20. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.61 billion. ARRIS Group had a return on equity of 16.38% and a net margin of 1.77%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. equities analysts anticipate that ARRIS Group Inc. will post 2.6 EPS for the current year.
ARRIS Group declared that its board has approved a stock repurchase program on Thursday, March 22nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Bruce William Mcclelland acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $24.72 per share, with a total value of $37,080.00. Following the completion of the purchase, the chief executive officer now directly owns 217,658 shares of the company’s stock, valued at $5,380,505.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Debora J. Wilson acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $25.17 per share, for a total transaction of $50,340.00. Following the purchase, the director now directly owns 41,050 shares of the company’s stock, valued at $1,033,228.50. The disclosure for this purchase can be found here. Insiders sold 19,914 shares of company stock worth $535,476 over the last three months. Insiders own 1.00% of the company’s stock.
Several equities research analysts recently commented on ARRS shares. Loop Capital started coverage on ARRIS Group in a research report on Monday, January 29th. They set a “buy” rating and a $35.00 price objective on the stock. Zacks Investment Research cut ARRIS Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 31st. ValuEngine cut ARRIS Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub raised ARRIS Group from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Barclays reissued an “equal weight” rating and issued a $31.00 target price on shares of ARRIS Group in a research report on Thursday, March 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.25.
ARRIS Group Profile
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.
Want to see what other hedge funds are holding ARRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARRIS Group Inc. (NASDAQ:ARRS).
Receive News & Ratings for ARRIS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS Group and related companies with MarketBeat.com's FREE daily email newsletter.