Earnest Partners LLC lowered its position in shares of ARRIS International PLC (NASDAQ:ARRS) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 635,772 shares of the communications equipment provider’s stock after selling 8,354 shares during the period. Earnest Partners LLC owned approximately 0.34% of ARRIS International PLC worth $17,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in ARRS. Delta Capital Management LLC purchased a new position in ARRIS International PLC in the 2nd quarter valued at approximately $210,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of ARRIS International PLC during the 2nd quarter worth $233,000. NGAM Advisors L.P. lifted its position in shares of ARRIS International PLC by 4.6% during the 2nd quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock worth $313,000 after purchasing an additional 489 shares during the last quarter. Fernwood Investment Management LLC raised its stake in ARRIS International PLC by 16.9% during the 2nd quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock worth $387,000 after acquiring an additional 2,000 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in ARRIS International PLC by 16.4% during the 2nd quarter. LS Investment Advisors LLC now owns 14,696 shares of the communications equipment provider’s stock worth $412,000 after acquiring an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.
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A number of research analysts have commented on the stock. Northland Securities set a $25.00 price objective on shares of ARRIS International PLC and gave the company a “hold” rating in a research note on Monday. ValuEngine raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Monday, August 7th. BidaskClub downgraded shares of ARRIS International PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, TheStreet raised shares of ARRIS International PLC from a “c+” rating to a “b” rating in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.38.
ARRIS International PLC (NASDAQ:ARRS) last issued its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share.
In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of ARRIS International PLC stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total value of $378,270.00. Following the completion of the sale, the insider now directly owns 9,127 shares in the company, valued at $273,810. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.
ARRIS International PLC 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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