ARRIS International PLC (ARRS) Position Boosted by Bellwether Investment Group LLC
Bellwether Investment Group LLC raised its position in ARRIS International PLC (NASDAQ:ARRS) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,665 shares of the communications equipment provider’s stock after buying an additional 830 shares during the period. Bellwether Investment Group LLC’s holdings in ARRIS International PLC were worth $229,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. Tyers Asset Management LLC purchased a new position in shares of ARRIS International PLC during the fourth quarter worth about $162,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ARRIS International PLC by 12.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,622 shares of the communications equipment provider’s stock worth $188,000 after buying an additional 711 shares during the last quarter. Cigna Investments Inc. New purchased a new position in shares of ARRIS International PLC during the fourth quarter worth about $204,000. Janus Capital Management LLC purchased a new position in shares of ARRIS International PLC during the fourth quarter worth about $208,000. Finally, Elkfork Partners LLC purchased a new position in shares of ARRIS International PLC during the fourth quarter worth about $223,000. Institutional investors own 87.34% of the company’s stock.
Shares of ARRIS International PLC (NASDAQ:ARRS) opened at 28.25 on Thursday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 29.96 and a beta of 1.35. ARRIS International PLC has a 52-week low of $20.05 and a 52-week high of $31.52. The stock’s 50 day moving average is $28.02 and its 200 day moving average is $28.02.
ARRIS International PLC (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. ARRIS International PLC had a return on equity of 15.77% and a net margin of 2.69%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, equities analysts predict that ARRIS International PLC will post $2.51 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of ARRIS International PLC in a research note on Thursday, June 15th. They issued a “buy” rating and a $38.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $34.00 price target on shares of ARRIS International PLC in a research note on Thursday, June 8th. ValuEngine cut shares of ARRIS International PLC from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research cut shares of ARRIS International PLC from a “buy” rating to a “strong sell” rating in a research note on Tuesday, February 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of ARRIS International PLC in a research note on Thursday, February 23rd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. ARRIS International PLC currently has an average rating of “Buy” and an average target price of $33.50.
In other ARRIS International PLC news, EVP David Potts sold 1,663 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $26.62, for a total transaction of $44,269.06. Following the completion of the sale, the executive vice president now directly owns 84,207 shares of the company’s stock, valued at approximately $2,241,590.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 4,706 shares of company stock valued at $124,511 over the last ninety days. 1.20% of the stock is owned by insiders.
About ARRIS International PLC
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.
Receive News & Stock Ratings for ARRIS International PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International PLC and related stocks with our FREE daily email newsletter.