ARRIS International plc (NASDAQ:ARRS) has been given an average rating of “Hold” by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $28.85.
A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. BidaskClub upgraded shares of ARRIS International from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Zacks Investment Research cut shares of ARRIS International from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Jefferies Financial Group cut shares of ARRIS International from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $38.00 to $31.75 in a research report on Monday, November 26th.
Shares of ARRS traded down $0.01 during trading hours on Friday, hitting $31.67. The stock had a trading volume of 36,888 shares, compared to its average volume of 2,141,040. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.58 and a quick ratio of 1.21. ARRIS International has a fifty-two week low of $21.55 and a fifty-two week high of $31.74. The stock has a market cap of $5.51 billion, a P/E ratio of 12.52 and a beta of 0.92.
In other news, insider Ian Edward Whiting sold 14,067 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $31.65, for a total value of $445,220.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James R. Brennan sold 6,350 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $31.66, for a total transaction of $201,041.00. Following the completion of the sale, the senior vice president now owns 46,045 shares of the company’s stock, valued at $1,457,784.70. The disclosure for this sale can be found here. Insiders have sold 29,977 shares of company stock valued at $948,740 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of ARRIS International by 2,886.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,062,741 shares of the communications equipment provider’s stock valued at $67,000 after buying an additional 1,993,677 shares during the last quarter. grace capital raised its position in shares of ARRIS International by 37.5% in the fourth quarter. grace capital now owns 5,500 shares of the communications equipment provider’s stock valued at $168,000 after buying an additional 1,500 shares during the last quarter. Delta Capital Management LLC acquired a new stake in shares of ARRIS International in the fourth quarter valued at about $227,000. Cerebellum GP LLC acquired a new stake in shares of ARRIS International in the fourth quarter valued at about $254,000. Finally, Commonwealth Bank of Australia acquired a new stake in shares of ARRIS International in the third quarter valued at about $499,000. Institutional investors and hedge funds own 83.05% of the company’s stock.
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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