Hallmark Capital Management Inc. Acquires 4,635 Shares of ARRIS International PLC (ARRS)
Hallmark Capital Management Inc. boosted its stake in shares of ARRIS International PLC (NASDAQ:ARRS) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 471,850 shares of the communications equipment provider’s stock after buying an additional 4,635 shares during the period. Hallmark Capital Management Inc. owned about 0.25% of ARRIS International PLC worth $13,221,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted its stake in shares of ARRIS International PLC by 7.4% in the first quarter. Tyers Asset Management LLC now owns 5,792 shares of the communications equipment provider’s stock worth $153,000 after buying an additional 400 shares in the last quarter. Janus Capital Management LLC bought a new stake in shares of ARRIS International PLC during the fourth quarter worth about $208,000. Delta Capital Management LLC bought a new stake in shares of ARRIS International PLC during the second quarter worth about $210,000. Elkfork Partners LLC boosted its stake in shares of ARRIS International PLC by 7.4% in the first quarter. Elkfork Partners LLC now owns 7,964 shares of the communications equipment provider’s stock worth $211,000 after buying an additional 550 shares in the last quarter. Finally, Cortina Asset Management LLC boosted its stake in shares of ARRIS International PLC by 9.5% in the first quarter. Cortina Asset Management LLC now owns 8,277 shares of the communications equipment provider’s stock worth $219,000 after buying an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.
Shares of ARRIS International PLC (NASDAQ:ARRS) opened at 28.47 on Tuesday. ARRIS International PLC has a 12 month low of $24.75 and a 12 month high of $31.52. The company has a market capitalization of $5.32 billion, a P/E ratio of 43.33 and a beta of 1.31. The company’s 50 day moving average price is $28.28 and its 200 day moving average price is $27.58.
ARRIS International PLC (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates 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 was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. Analysts expect that ARRIS International PLC will post $2.51 EPS for the current fiscal year.
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ARRS has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $34.00 target price on shares of ARRIS International PLC in a report on Monday, May 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $33.00 target price on shares of ARRIS International PLC in a report on Sunday, April 23rd. BTIG Research initiated coverage on ARRIS International PLC in a report on Thursday, June 15th. They set a “buy” rating and a $38.00 target price on the stock. TheStreet lowered ARRIS International PLC from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Finally, ValuEngine lowered ARRIS International PLC from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. ARRIS International PLC has a consensus rating of “Buy” and a consensus target price of $32.90.
In other ARRIS International PLC news, EVP David Potts sold 2,502 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total value of $69,230.34. Following the completion of the sale, the executive vice president now owns 90,592 shares of the company’s stock, valued at $2,506,680.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen J. Mccaffery sold 12,609 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total transaction of $378,270.00. Following the completion of the sale, the insider now directly owns 9,127 shares of the company’s stock, valued at approximately $273,810. The disclosure for this sale can be found here. In the last three months, insiders sold 23,255 shares of company stock valued at $676,591. 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.
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