Crossmark Global Holdings Inc. Buys New Stake in ARRIS International PLC (ARRS)
Crossmark Global Holdings Inc. bought a new position in shares of ARRIS International PLC (NASDAQ:ARRS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,591 shares of the communications equipment provider’s stock, valued at approximately $473,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Eii Capital Management Inc. raised its position in ARRIS International PLC by 10.5% during the second quarter. Eii Capital Management Inc. now owns 118,675 shares of the communications equipment provider’s stock worth $3,325,000 after acquiring an additional 11,250 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in ARRIS International PLC during the second quarter worth about $7,428,000. Balyasny Asset Management LLC raised its position in ARRIS International PLC by 376.9% during the second quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock worth $1,083,000 after acquiring an additional 30,534 shares during the last quarter. Marshall Wace North America L.P. raised its position in ARRIS International PLC by 188.1% during the second quarter. Marshall Wace North America L.P. now owns 75,745 shares of the communications equipment provider’s stock worth $2,121,000 after acquiring an additional 49,456 shares during the last quarter. Finally, First Quadrant L P CA acquired a new position in ARRIS International PLC during the third quarter worth about $3,827,000. Institutional investors own 87.02% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. 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 Tuesday, November 7th. Northland Securities set a $25.00 price objective on shares of ARRIS International PLC and gave the company a “hold” rating in a research report on Monday, October 16th. TheStreet raised shares of ARRIS International PLC from a “c+” rating to a “b” rating in a research report on Monday, October 9th. Jefferies Group LLC set a $38.00 price objective on shares of ARRIS International PLC and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, ValuEngine raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. ARRIS International PLC presently has an average rating of “Buy” and an average price target of $33.38.
Shares of ARRIS International PLC (NASDAQ ARRS) opened at $29.19 on Tuesday. ARRIS International PLC has a twelve month low of $24.75 and a twelve month high of $31.52. The stock has a market cap of $5,361.90, a P/E ratio of 12.31, a P/E/G ratio of 1.24 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.43.
ARRIS International PLC (NASDAQ:ARRS) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. ARRIS International PLC had a net margin of 2.51% and a return on equity of 14.02%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. ARRIS International PLC’s revenue was down .2% compared to the same quarter last year. equities analysts anticipate that ARRIS International PLC will post 2.31 EPS for the current year.
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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.
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