ARRIS International plc (ARRS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of ARRIS International plc (NASDAQ:ARRS) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,109 shares of the communications equipment provider’s stock after selling 8,758 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of ARRIS International worth $7,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARRS. US Bancorp DE lifted its position in shares of ARRIS International by 8.3% in the 3rd quarter. US Bancorp DE now owns 37,066 shares of the communications equipment provider’s stock worth $965,000 after buying an additional 2,849 shares during the last quarter. Hallmark Capital Management Inc. increased its holdings in shares of ARRIS International by 0.8% in the 2nd quarter. Hallmark Capital Management Inc. now owns 410,082 shares of the communications equipment provider’s stock worth $10,024,000 after acquiring an additional 3,130 shares during the period. Arizona State Retirement System increased its holdings in shares of ARRIS International by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 121,559 shares of the communications equipment provider’s stock worth $2,972,000 after acquiring an additional 3,808 shares during the period. HGK Asset Management Inc. increased its holdings in shares of ARRIS International by 17.0% in the 2nd quarter. HGK Asset Management Inc. now owns 26,413 shares of the communications equipment provider’s stock worth $646,000 after acquiring an additional 3,834 shares during the period. Finally, Paloma Partners Management Co increased its holdings in shares of ARRIS International by 9.0% in the 2nd quarter. Paloma Partners Management Co now owns 52,562 shares of the communications equipment provider’s stock worth $1,284,000 after acquiring an additional 4,345 shares during the period. Hedge funds and other institutional investors own 89.61% of the company’s stock.

A number of analysts recently weighed in on ARRS shares. TheStreet cut shares of ARRIS International from a “b-” rating to a “c+” rating in a report on Monday, October 22nd. Raymond James cut shares of ARRIS International from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $36.00 to $29.00 in a report on Monday, October 15th. ValuEngine raised shares of ARRIS International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 24th. BidaskClub raised shares of ARRIS International from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Finally, Loop Capital cut shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.28.

ARRIS International stock opened at $30.90 on Monday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.15 and a current ratio of 1.54. ARRIS International plc has a 52 week low of $21.55 and a 52 week high of $31.06.

ARRIS International (NASDAQ:ARRS) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. ARRIS International had a net margin of 1.24% and a return on equity of 16.14%. ARRIS International’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. As a group, research analysts forecast that ARRIS International plc will post 2.67 earnings per share for the current year.

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ARRIS International Company Profile

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments: Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The 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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