Jefferies Group LLC set a $38.00 price target on ARRIS International PLC (NASDAQ:ARRS) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the communications equipment provider’s stock.

ARRS has been the subject of a number of other reports. ValuEngine lowered shares of ARRIS International PLC from a buy rating to a hold rating in a report on Wednesday, September 6th. Zacks Investment Research lowered shares of ARRIS International PLC from a buy rating to a hold rating in a report on Tuesday, August 8th. BTIG Research initiated coverage on shares of ARRIS International PLC in a report on Thursday, June 15th. They issued a buy rating and a $38.00 price objective for the company. BidaskClub lowered shares of ARRIS International PLC from a buy rating to a hold rating in a report on Tuesday, July 4th. Finally, Northland Securities restated a hold rating and issued a $24.00 price objective on shares of ARRIS International PLC in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $33.25.

ARRIS International PLC (ARRS) opened at 28.94 on Wednesday. The stock has a 50 day moving average price of $27.69 and a 200 day moving average price of $27.55. 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 $5.43 billion, a price-to-earnings ratio of 43.72 and a beta of 1.33.

ARRIS International PLC (NASDAQ:ARRS) last announced its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. ARRIS International PLC had a net margin of 1.90% and a return on equity of 13.97%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts expect that ARRIS International PLC will post $2.54 EPS for the current year.

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In other ARRIS International PLC news, EVP David Potts sold 8,144 shares of ARRIS International PLC stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $28.13, for a total value of $229,090.72. Following the completion of the sale, the executive vice president now owns 96,234 shares of the company’s stock, valued at approximately $2,707,062.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 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 ninety days, insiders sold 23,255 shares of company stock valued at $676,591. 0.90% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its position in ARRIS International PLC by 2.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock worth $3,391,000 after purchasing an additional 3,289 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new stake in ARRIS International PLC in the 2nd quarter worth approximately $233,000. UBS Oconnor LLC bought a new stake in ARRIS International PLC in the 2nd quarter worth approximately $1,401,000. Balyasny Asset Management LLC grew its position in ARRIS International PLC by 376.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock worth $1,083,000 after purchasing an additional 30,534 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in ARRIS International PLC by 20.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 132,490 shares of the communications equipment provider’s stock worth $3,712,000 after purchasing an additional 22,352 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for ARRIS International PLC (NASDAQ:ARRS)

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