ARRIS International PLC (ARRS) Stake Held by State of Tennessee Treasury Department

ARRIS International PLC (ARRS) Stake Held by State of Tennessee Treasury Department

State of Tennessee Treasury Department continued to hold its position in shares of ARRIS International PLC (NASDAQ:ARRS) during the third quarter, Holdings Channel reports. The firm owned 20,000 shares of the company’s stock at the end of the third quarter. State of Tennessee Treasury Department’s holdings in ARRIS International PLC were worth $567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in shares of ARRIS International PLC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 25,733 shares of the company’s stock valued at $539,000 after buying an additional 3,112 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of ARRIS International PLC by 6.3% in the second quarter. UBS Asset Management Americas Inc. now owns 134,492 shares of the company’s stock valued at $2,818,000 after buying an additional 8,000 shares during the last quarter. First Pacific Advisors LLC boosted its position in shares of ARRIS International PLC by 0.4% in the second quarter. First Pacific Advisors LLC now owns 3,717,862 shares of the company’s stock valued at $77,926,000 after buying an additional 14,769 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ARRIS International PLC by 3.3% in the second quarter. JPMorgan Chase & Co. now owns 554,698 shares of the company’s stock valued at $11,627,000 after buying an additional 17,721 shares during the last quarter. Finally, Pax World Management LLC boosted its position in shares of ARRIS International PLC by 15.1% in the second quarter. Pax World Management LLC now owns 619,618 shares of the company’s stock valued at $12,987,000 after buying an additional 81,329 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

ARRIS International PLC (NASDAQ:ARRS) traded up 0.58% during mid-day trading on Friday, reaching $29.53. The company’s stock had a trading volume of 1,391,351 shares. ARRIS International PLC has a 12-month low of $20.05 and a 12-month high of $31.52. The company’s market cap is $5.60 billion. The firm’s 50 day moving average is $30.14 and its 200-day moving average is $28.32.

ARRIS International PLC (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. ARRIS International PLC had a negative net margin of 0.65% and a positive return on equity of 17.33%. The business earned $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. Equities analysts anticipate that ARRIS International PLC will post $2.78 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the company. RBC Capital Markets reaffirmed an “outperform” rating and set a $35.00 price objective on shares of ARRIS International PLC in a research report on Wednesday, December 21st. Barclays PLC reaffirmed a “buy” rating and set a $37.00 price objective on shares of ARRIS International PLC in a research report on Wednesday, January 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of ARRIS International PLC in a research report on Monday, October 10th. TheStreet cut ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of ARRIS International PLC in a research report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. ARRIS International PLC currently has a consensus rating of “Buy” and an average target price of $33.50.

In related news, insider Robert J. Stanzione sold 30,000 shares of the firm’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $30.15, for a total transaction of $904,500.00. Following the completion of the transaction, the insider now owns 848,856 shares of the company’s stock, valued at $25,593,008.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert J. Stanzione sold 50,000 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $31.00, for a total transaction of $1,550,000.00. Following the transaction, the insider now directly owns 798,856 shares of the company’s stock, valued at approximately $24,764,536. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

About ARRIS International PLC

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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