ARRIS International PLC (ARRS) Position Raised by Texas Permanent School Fund
Texas Permanent School Fund raised its position in shares of ARRIS International PLC (NASDAQ:ARRS) by 8.7% during the third quarter, Holdings Channel reports. The fund owned 145,255 shares of the company’s stock after buying an additional 11,652 shares during the period. Texas Permanent School Fund owned about 0.08% of ARRIS International PLC worth $4,115,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Profund Advisors LLC boosted its stake in ARRIS International PLC by 0.4% in the second quarter. Profund Advisors LLC now owns 19,285 shares of the company’s stock worth $404,000 after buying an additional 76 shares during the last quarter. Calvert Investment Management Inc. boosted its stake in ARRIS International PLC by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock worth $206,000 after buying an additional 167 shares during the last quarter. 1st Global Advisors Inc. boosted its stake in ARRIS International PLC by 1.8% in the third quarter. 1st Global Advisors Inc. now owns 11,893 shares of the company’s stock worth $337,000 after buying an additional 211 shares during the last quarter. Capstone Asset Management Co. boosted its stake in ARRIS International PLC by 1.5% in the third quarter. Capstone Asset Management Co. now owns 22,111 shares of the company’s stock worth $626,000 after buying an additional 330 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in ARRIS International PLC by 2.8% in the third quarter. Oakbrook Investments LLC now owns 18,400 shares of the company’s stock worth $521,000 after buying an additional 500 shares during the last quarter. 84.33% of the stock is owned by institutional investors.
ARRIS International PLC (NASDAQ:ARRS) traded up 0.62% during trading on Friday, reaching $29.37. The company’s stock had a trading volume of 2,703,362 shares. The company’s market cap is $5.57 billion. The stock’s 50 day moving average is $29.94 and its 200 day moving average is $27.57. ARRIS International PLC has a 12 month low of $20.05 and a 12 month high of $31.52.
ARRIS International PLC (NASDAQ:ARRS) last announced its earnings results on Wednesday, October 26th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. ARRIS International PLC had a positive return on equity of 17.33% and a negative net margin of 0.65%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The company’s revenue was up 42.0% compared to the same quarter last year. On average, equities analysts expect that ARRIS International PLC will post $2.78 EPS for the current fiscal year.
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A number of analysts have recently issued reports on the company. TheStreet cut ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Morgan Stanley assumed coverage on ARRIS International PLC in a research report on Tuesday, September 20th. They issued an “overweight” rating and a $34.00 price objective for the company. RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of ARRIS International PLC in a research report on Wednesday, December 21st. Stifel Nicolaus reiterated a “positive” rating and set a $33.00 target price on shares of ARRIS International PLC in a research note on Thursday, September 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of ARRIS International PLC in a research note on Monday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $33.50.
In other news, insider Robert J. Stanzione sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $31.00, for a total value of $1,550,000.00. Following the transaction, the insider now owns 798,856 shares in the company, valued at approximately $24,764,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Stanzione sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $30.15, for a total value of $904,500.00. Following the completion of the transaction, the insider now owns 848,856 shares in the company, valued at approximately $25,593,008.40. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
ARRIS International PLC Company Profile
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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