Canada Pension Plan Investment Board lowered its position in ARRIS International PLC (NASDAQ:ARRS) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,100 shares of the communications equipment provider’s stock after selling 32,200 shares during the period. Canada Pension Plan Investment Board owned 0.36% of ARRIS International PLC worth $19,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in shares of ARRIS International PLC by 2.8% in the first quarter. State Street Corp now owns 4,761,965 shares of the communications equipment provider’s stock worth $125,954,000 after buying an additional 129,725 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ARRIS International PLC by 60.0% in the first quarter. Ameriprise Financial Inc. now owns 4,501,258 shares of the communications equipment provider’s stock worth $119,058,000 after buying an additional 1,687,326 shares during the period. Bank of New York Mellon Corp raised its stake in shares of ARRIS International PLC by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,101,064 shares of the communications equipment provider’s stock worth $55,573,000 after buying an additional 73,140 shares during the period. Neuberger Berman Group LLC raised its stake in shares of ARRIS International PLC by 1.2% in the first quarter. Neuberger Berman Group LLC now owns 2,023,368 shares of the communications equipment provider’s stock worth $53,518,000 after buying an additional 24,743 shares during the period. Finally, Strs Ohio raised its stake in shares of ARRIS International PLC by 22.4% in the second quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock worth $53,518,000 after buying an additional 350,000 shares during the period. Institutional investors and hedge funds own 87.78% of the company’s stock.

Shares of ARRIS International PLC (NASDAQ ARRS) opened at 27.42 on Tuesday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 41.42 and a beta of 1.31. ARRIS International PLC has a 52-week low of $24.75 and a 52-week high of $31.52. The firm has a 50-day moving average price of $28.05 and a 200-day moving average price of $27.50.

ARRIS International PLC (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. On average, analysts predict that ARRIS International PLC will post $2.54 EPS for the current year.

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ARRS has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price target on shares of ARRIS International PLC in a report on Monday, May 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $33.00 price target 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 price target 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. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. ARRIS International PLC has a consensus rating of “Buy” and an average price target of $32.90.

In other news, insider Stephen J. Mccaffery sold 12,609 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total transaction of $378,270.00. Following the transaction, the insider now directly owns 9,127 shares of the company’s stock, valued at approximately $273,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Potts sold 2,502 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total value of $69,230.34. Following the transaction, the executive vice president now directly owns 90,592 shares in the company, valued at $2,506,680.64. The disclosure for this sale can be found here. Insiders have sold a total of 23,255 shares of company stock worth $676,591 over the last three months. Insiders own 1.20% of the company’s stock.

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

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