Arris Group Inc. (ARRS) Shares Sold by State of Wisconsin Investment Board
State of Wisconsin Investment Board decreased its stake in shares of Arris Group Inc. (NASDAQ:ARRS) by 1.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 120,710 shares of the company’s stock after selling 2,200 shares during the period. State of Wisconsin Investment Board’s holdings in Arris Group were worth $3,420,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of ARRS. Hotchkis & Wiley Capital Management LLC boosted its position in Arris Group by 25.5% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 10,345,103 shares of the company’s stock valued at $216,833,000 after buying an additional 2,104,800 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Arris Group by 3.1% in the second quarter. BlackRock Fund Advisors now owns 6,564,490 shares of the company’s stock valued at $137,592,000 after buying an additional 198,261 shares during the period. Wells Fargo & Company MN boosted its position in shares of Arris Group by 4.6% in the third quarter. Wells Fargo & Company MN now owns 3,738,342 shares of the company’s stock valued at $105,907,000 after buying an additional 165,125 shares during the period. First Pacific Advisors LLC boosted its position in shares of Arris Group by 0.4% in the second quarter. First Pacific Advisors LLC now owns 3,717,862 shares of the company’s stock valued at $77,926,000 after buying an additional 14,769 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Arris Group by 25.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,024,573 shares of the company’s stock valued at $63,395,000 after buying an additional 620,496 shares during the period. Institutional investors and hedge funds own 84.40% of the company’s stock.
Shares of Arris Group Inc. (NASDAQ:ARRS) traded down 2.08% during midday trading on Wednesday, reaching $28.69. 2,155,105 shares of the company’s stock were exchanged. Arris Group Inc. has a one year low of $20.05 and a one year high of $32.93. The company’s 50-day moving average is $28.47 and its 200-day moving average is $26.26. The stock’s market cap is $5.44 billion.
Arris Group (NASDAQ:ARRS) last released its earnings results on Wednesday, October 26th. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. Arris Group had a positive return on equity of 17.33% and a negative net margin of 0.65%. The firm earned $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 42.0% compared to the same quarter last year. Equities analysts expect that Arris Group Inc. will post $2.78 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on ARRS shares. Zacks Investment Research cut shares of Arris Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. TheStreet raised shares of Arris Group from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Jefferies Group reissued a “buy” rating and issued a $34.00 target price on shares of Arris Group in a report on Tuesday, October 4th. RBC Capital Markets reissued an “outperform” rating and issued a $33.00 target price on shares of Arris Group in a report on Friday, September 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Arris Group in a report on Monday, October 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Arris Group presently has an average rating of “Buy” and a consensus target price of $33.50.
In related news, insider Ronald Coppock sold 5,000 shares of Arris Group stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 19,750 shares of the company’s stock, valued at $572,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
About Arris Group
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem.
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