ARRIS International plc (ARRS) Shares Bought by Glenmede Trust Co. NA

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Glenmede Trust Co. NA increased its position in shares of ARRIS International plc (NASDAQ:ARRS) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,166,628 shares of the communications equipment provider’s stock after acquiring an additional 39,031 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.65% of ARRIS International worth $28,518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARRS. Summit Trail Advisors LLC boosted its holdings in shares of ARRIS International by 2,047.7% in the 1st quarter. Summit Trail Advisors LLC now owns 111,487 shares of the communications equipment provider’s stock valued at $111,000 after purchasing an additional 106,296 shares during the last quarter. Cerebellum GP LLC boosted its holdings in shares of ARRIS International by 163.9% in the 2nd quarter. Cerebellum GP LLC now owns 6,913 shares of the communications equipment provider’s stock valued at $169,000 after purchasing an additional 4,293 shares during the last quarter. M&T Bank Corp acquired a new position in shares of ARRIS International in the 1st quarter valued at $231,000. Levin Capital Strategies L.P. acquired a new position in shares of ARRIS International in the 1st quarter valued at $266,000. Finally, Hartford Investment Management Co. acquired a new position in shares of ARRIS International in the 2nd quarter valued at $305,000. Hedge funds and other institutional investors own 87.26% of the company’s stock.

In other news, CEO Bruce William Mcclelland purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average price of $24.08 per share, with a total value of $36,120.00. Following the purchase, the chief executive officer now directly owns 242,256 shares of the company’s stock, valued at approximately $5,833,524.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 5,040 shares of company stock worth $120,666 in the last ninety days. 1.00% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on the stock. TheStreet upgraded shares of ARRIS International from a “c” rating to a “b-” rating in a report on Friday, September 21st. ValuEngine upgraded shares of ARRIS International from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 29th. Northland Securities restated a “hold” rating and set a $23.00 target price on shares of ARRIS International in a report on Thursday, August 2nd. Wells Fargo & Co started coverage on shares of ARRIS International in a report on Thursday, July 12th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Goldman Sachs Group lowered shares of ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 target price on the stock. in a report on Wednesday, June 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.50.

Shares of NASDAQ:ARRS traded up $0.28 during midday trading on Friday, hitting $23.13. 1,094,756 shares of the company’s stock traded hands, compared to its average volume of 1,386,663. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.54 and a beta of 1.23. ARRIS International plc has a twelve month low of $22.33 and a twelve month high of $30.00.

ARRIS International (NASDAQ:ARRS) last posted its earnings results on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, analysts predict that ARRIS International plc will post 2.59 earnings per share for the current year.

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

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