First Trust Advisors LP lowered its stake in shares of ARRIS International plc (NASDAQ:ARRS) by 52.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 435,711 shares of the communications equipment provider’s stock after selling 487,412 shares during the period. First Trust Advisors LP’s holdings in ARRIS International were worth $13,773,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in ARRIS International by 6,235.0% during the 4th quarter. Millennium Management LLC now owns 4,132,241 shares of the communications equipment provider’s stock worth $126,323,000 after buying an additional 4,067,012 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of ARRIS International by 346.2% in the 1st quarter. Gabelli Funds LLC now owns 2,955,981 shares of the communications equipment provider’s stock valued at $93,439,000 after purchasing an additional 2,293,488 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of ARRIS International by 2,886.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,062,741 shares of the communications equipment provider’s stock valued at $67,000 after purchasing an additional 1,993,677 shares in the last quarter. Water Island Capital LLC acquired a new stake in shares of ARRIS International in the 1st quarter valued at $60,437,000. Finally, Norges Bank acquired a new stake in shares of ARRIS International in the 4th quarter valued at $56,169,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

In other ARRIS International news, SVP James R. Brennan sold 6,350 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $31.66, for a total transaction of $201,041.00. Following the transaction, the senior vice president now directly owns 46,045 shares of the company’s stock, valued at approximately $1,457,784.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Potts sold 15,523 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $31.65, for a total transaction of $491,302.95. Following the transaction, the chief financial officer now directly owns 111,842 shares in the company, valued at $3,539,799.30. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Shares of NASDAQ:ARRS opened at $31.66 on Tuesday. ARRIS International plc has a 12 month low of $21.55 and a 12 month high of $31.74. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.68. The firm has a market cap of $5.56 billion, a P/E ratio of 12.51 and a beta of 0.92.

Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of ARRIS International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. ValuEngine lowered shares of ARRIS International from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.87.

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About ARRIS International

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. The company's Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

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

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