Balyasny Asset Management LLC raised its position in ARRIS International PLC (NASDAQ:ARRS) by 376.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,635 shares of the communications equipment provider’s stock after purchasing an additional 30,534 shares during the period. Balyasny Asset Management LLC’s holdings in ARRIS International PLC were worth $1,083,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its position in shares of ARRIS International PLC by 20.3% during the second quarter. Parametric Portfolio Associates LLC now owns 132,490 shares of the communications equipment provider’s stock worth $3,712,000 after acquiring an additional 22,352 shares in the last quarter. Globeflex Capital L P increased its position in shares of ARRIS International PLC by 64.2% during the second quarter. Globeflex Capital L P now owns 76,300 shares of the communications equipment provider’s stock worth $2,138,000 after acquiring an additional 29,840 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of ARRIS International PLC by 23.0% during the second quarter. UBS Asset Management Americas Inc. now owns 140,895 shares of the communications equipment provider’s stock worth $3,948,000 after acquiring an additional 26,359 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of ARRIS International PLC during the second quarter worth $7,428,000. Finally, Amalgamated Bank increased its position in shares of ARRIS International PLC by 18.3% during the second quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock worth $995,000 after acquiring an additional 5,488 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

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ARRIS International PLC (ARRS) opened at 27.73 on Friday. The firm has a market cap of $5.20 billion, a PE ratio of 41.89 and a beta of 1.33. ARRIS International PLC has a one year low of $24.75 and a one year high of $31.52. The company’s 50-day moving average is $27.92 and its 200 day moving average is $27.63.

ARRIS International PLC (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. ARRIS International PLC had a net margin of 1.90% and a return on equity of 13.97%. ARRIS International PLC’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. Equities analysts anticipate that ARRIS International PLC will post $2.53 earnings per share for the current year.

In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were 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 owns 9,127 shares in the company, valued at approximately $273,810. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Northland Securities reissued a “hold” rating and set a $24.00 price objective on shares of ARRIS International PLC in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, August 7th. BidaskClub downgraded shares of ARRIS International PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Finally, TheStreet raised shares of ARRIS International PLC from a “c+” rating to a “b” rating in a research report on Monday, October 9th. One 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. The stock has an average rating of “Buy” and a consensus price target of $33.25.

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.

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

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