ARRIS International plc (ARRS) Given In-Line Rating at Needham & Company LLC

Needham & Company LLC reissued their in-line rating on shares of ARRIS International plc (NASDAQ:ARRS) in a research report sent to investors on Friday. They currently have a $32.00 price target on the stock.

A number of other research firms have also recently weighed in on ARRS. Royal Bank of Canada restated an outperform rating and issued a $35.00 price target on shares of ARRIS International plc in a report on Wednesday, February 1st. TheStreet cut shares of ARRIS International plc from a buy rating to a hold rating in a report on Friday, December 2nd. Zacks Investment Research upgraded shares of ARRIS International plc from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Friday, February 3rd. Northland Securities started coverage on shares of ARRIS International plc in a report on Tuesday, February 21st. They issued a market perform rating and a $30.00 price target on the stock. Finally, Jefferies Group LLC restated a buy rating and issued a $34.00 price target on shares of ARRIS International plc in a report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $33.00.

Analyst Recommendations for ARRIS International plc (NASDAQ:ARRS)

Shares of ARRIS International plc (NASDAQ:ARRS) traded up 0.19% during mid-day trading on Friday, reaching $26.67. 527,731 shares of the company traded hands. The firm has a 50-day moving average price of $27.10 and a 200 day moving average price of $28.51. ARRIS International plc has a 52 week low of $20.05 and a 52 week high of $31.52. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 296.33 and a beta of 1.26.

ARRIS International plc (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. ARRIS International plc had a negative net margin of 0.65% and a positive return on equity of 16.69%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $0.62 EPS. The company’s revenue was up 61.1% compared to the same quarter last year. On average, analysts anticipate that ARRIS International plc will post $2.51 earnings per share for the current year.

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In related news, EVP David Potts sold 8,378 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $28.92, for a total value of $242,291.76. Following the completion of the transaction, the executive vice president now directly owns 89,258 shares of the company’s stock, valued at approximately $2,581,341.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ARRS. Quantbot Technologies LP acquired a new position in ARRIS International plc during the third quarter worth about $101,000. Acrospire Investment Management LLC raised its position in ARRIS International plc by 666.7% in the third quarter. Acrospire Investment Management LLC now owns 4,600 shares of the company’s stock worth $130,000 after buying an additional 4,000 shares in the last quarter. Advisor Group Inc. raised its position in ARRIS International plc by 25.3% in the third quarter. Advisor Group Inc. now owns 5,269 shares of the company’s stock worth $149,000 after buying an additional 1,063 shares in the last quarter. Tyers Asset Management LLC acquired a new position in ARRIS International plc during the fourth quarter worth about $162,000. Finally, Penserra Capital Management LLC acquired a new position in ARRIS International plc during the third quarter worth about $183,000. 85.59% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:ARRS

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