Bank of New York Mellon Corp Has $48.32 Million Stake in ARRIS International plc (ARRS)

Bank of New York Mellon Corp grew its position in ARRIS International plc (NASDAQ:ARRS) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,976,713 shares of the communications equipment provider’s stock after buying an additional 3,776 shares during the quarter. Bank of New York Mellon Corp owned 1.10% of ARRIS International worth $48,322,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Strs Ohio raised its position in shares of ARRIS International by 6.2% in the 2nd quarter. Strs Ohio now owns 4,728,995 shares of the communications equipment provider’s stock valued at $115,600,000 after buying an additional 273,995 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of ARRIS International by 3.5% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,166,628 shares of the communications equipment provider’s stock valued at $28,518,000 after buying an additional 39,031 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of ARRIS International by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 759,298 shares of the communications equipment provider’s stock valued at $20,175,000 after buying an additional 8,672 shares in the last quarter. Hallmark Capital Management Inc. raised its position in shares of ARRIS International by 0.8% in the 2nd quarter. Hallmark Capital Management Inc. now owns 410,082 shares of the communications equipment provider’s stock valued at $10,024,000 after buying an additional 3,130 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its position in shares of ARRIS International by 15.3% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 265,335 shares of the communications equipment provider’s stock valued at $6,486,000 after buying an additional 35,130 shares in the last quarter. Institutional investors own 87.41% of the company’s stock.

ARRS has been the topic of several research reports. ValuEngine raised shares of ARRIS International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 24th. TheStreet raised shares of ARRIS International from a “c” rating to a “b-” rating in a report on Friday, September 21st. BidaskClub raised shares of ARRIS International from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Wells Fargo & Co lowered shares of ARRIS International from an “outperform” rating to a “market perform” rating in a report on Thursday, November 8th. Finally, Loop Capital lowered shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.21.

Shares of ARRIS International stock opened at $30.67 on Monday. The company has a market cap of $5.32 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.15 and a current ratio of 1.54. ARRIS International plc has a 1 year low of $21.55 and a 1 year high of $30.96.

ARRIS International (NASDAQ:ARRS) last announced its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. ARRIS International had a net margin of 1.24% and a return on equity of 16.14%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. Equities research analysts forecast that ARRIS International plc will post 2.63 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This article was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/11/19/bank-of-new-york-mellon-corp-has-48-32-million-stake-in-arris-international-plc-arrs.html.

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.

Further Reading: Stop Order Uses For Individual Investors

Want to see what other hedge funds are holding ARRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARRIS International plc (NASDAQ:ARRS).

Institutional Ownership by Quarter for ARRIS International (NASDAQ:ARRS)

Receive News & Ratings for ARRIS International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply