ARRIS International PLC (ARRS) Stake Held by Glenmede Trust Co. NA

Glenmede Trust Co. NA continued to hold its position in shares of ARRIS International PLC (NASDAQ:ARRS) during the first quarter, Holdings Channel reports. The fund owned 1,305,000 shares of the communications equipment provider’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in ARRIS International PLC were worth $39,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in ARRIS International PLC by 2.8% in the first quarter. State Street Corp now owns 4,761,965 shares of the communications equipment provider’s stock valued at $125,954,000 after buying an additional 129,725 shares during the period. Ameriprise Financial Inc. raised its stake in ARRIS International PLC by 60.0% in the first quarter. Ameriprise Financial Inc. now owns 4,501,258 shares of the communications equipment provider’s stock valued at $119,058,000 after buying an additional 1,687,326 shares during the period. Bank of New York Mellon Corp raised its stake in ARRIS International PLC by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,101,064 shares of the communications equipment provider’s stock valued at $55,573,000 after buying an additional 73,140 shares during the period. Neuberger Berman Group LLC raised its stake in ARRIS International PLC by 1.2% in the first quarter. Neuberger Berman Group LLC now owns 2,023,368 shares of the communications equipment provider’s stock valued at $53,518,000 after buying an additional 24,743 shares during the period. Finally, Norges Bank bought a new stake in ARRIS International PLC during the fourth quarter valued at approximately $55,207,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.

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

Shares of ARRIS International PLC (NASDAQ ARRS) traded up 0.59% during mid-day trading on Monday, reaching $29.14. The company’s stock had a trading volume of 659,732 shares. The company’s 50 day moving average price is $27.85 and its 200-day moving average price is $28.02. ARRIS International PLC has a 1-year low of $20.05 and a 1-year high of $31.52. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 30.90 and a beta of 1.35.

ARRIS International PLC (NASDAQ:ARRS) last announced its earnings results on Wednesday, May 3rd. The communications equipment provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. ARRIS International PLC had a return on equity of 15.77% and a net margin of 2.69%. Analysts predict that ARRIS International PLC will post $2.51 earnings per share for the current fiscal year.

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Several research firms recently commented on ARRS. Royal Bank Of Canada reaffirmed a “buy” rating on shares of ARRIS International PLC in a report on Tuesday, May 2nd. TheStreet raised ARRIS International PLC from a “c” rating to a “b-” rating in a report on Wednesday, February 22nd. Goldman Sachs Group, Inc. (The) raised ARRIS International PLC from a “neutral” rating to a “buy” rating and raised their target price for the stock from $29.00 to $32.00 in a report on Tuesday, March 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of ARRIS International PLC in a report on Thursday, June 8th. Finally, Zacks Investment Research raised ARRIS International PLC from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $33.50.

In other ARRIS International PLC news, EVP David Potts sold 1,663 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $26.62, for a total transaction of $44,269.06. Following the sale, the executive vice president now owns 84,207 shares in the company, valued at approximately $2,241,590.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 4,706 shares of company stock worth $124,511. 1.20% of the stock is owned by insiders.

About ARRIS International PLC

ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ARRS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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