Tocqueville Asset Management L.P. boosted its holdings in shares of ARRIS International plc (NASDAQ:ARRS) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 270,223 shares of the communications equipment provider’s stock after purchasing an additional 4,888 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in ARRIS International were worth $7,023,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of ARRS. First Hawaiian Bank purchased a new position in shares of ARRIS International during the 3rd quarter valued at approximately $140,000. Delphi Management Inc. MA purchased a new position in shares of ARRIS International during the 2nd quarter valued at approximately $212,000. Commonwealth Bank of Australia purchased a new position in shares of ARRIS International during the 3rd quarter valued at approximately $499,000. Alambic Investment Management L.P. purchased a new position in shares of ARRIS International during the 2nd quarter valued at approximately $532,000. Finally, Oakbrook Investments LLC increased its holdings in shares of ARRIS International by 31.7% during the 3rd quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 5,200 shares in the last quarter. 89.61% of the stock is owned by institutional investors.
ARRS has been the subject of several recent research reports. Royal Bank of Canada lowered shares of ARRIS International from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 8th. Needham & Company LLC lowered shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Raymond James lowered shares of ARRIS International from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $36.00 to $29.00 in a report on Monday, October 15th. Zacks Investment Research reaffirmed a “hold” rating on shares of ARRIS International in a report on Monday, November 12th. Finally, ValuEngine raised shares of ARRIS International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 29th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.28.
ARRIS International (NASDAQ:ARRS) last released its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. ARRIS International had a net margin of 1.24% and a return on equity of 16.14%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, analysts forecast that ARRIS International plc will post 2.67 EPS for the current year.
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ARRIS International 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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