ARRIS International plc (ARRS) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of ARRIS International plc (NASDAQ:ARRS) by 9.4% during the first quarter, HoldingsChannel.com reports. The fund owned 13,044 shares of the communications equipment provider’s stock after selling 1,355 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ARRIS International were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ARRS. CWM LLC grew its position in shares of ARRIS International by 80.0% in the first quarter. CWM LLC now owns 900 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. Oregon Public Employees Retirement Fund grew 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 purchasing an additional 1,993,677 shares in the last quarter. grace capital grew its position in ARRIS International by 37.5% during the fourth quarter. grace capital now owns 5,500 shares of the communications equipment provider’s stock worth $168,000 after buying an additional 1,500 shares in the last quarter. Delta Capital Management LLC purchased a new position in ARRIS International during the fourth quarter worth about $227,000. Finally, World Asset Management Inc grew its position in ARRIS International by 16.9% during the first quarter. World Asset Management Inc now owns 9,950 shares of the communications equipment provider’s stock worth $315,000 after buying an additional 1,439 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

ARRIS International stock remained flat at $$31.66 during midday trading on Tuesday. ARRIS International plc has a 1 year low of $21.55 and a 1 year high of $31.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.21 and a current ratio of 1.58. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 12.51 and a beta of 0.92.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. ARRIS International had a return on equity of 15.14% and a net margin of 1.69%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year.

In other ARRIS International news, insider Daniel T. Whalen sold 9,560 shares of ARRIS International stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $31.64, for a total transaction of $302,478.40. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at $474,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ian Edward Whiting sold 14,067 shares of ARRIS International stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $31.65, for a total value of $445,220.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,500 shares of company stock valued at $1,440,043. Corporate insiders own 1.00% of the company’s stock.

Several equities analysts recently commented on ARRS shares. BidaskClub cut ARRIS International from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. ValuEngine cut ARRIS International from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $29.87.

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About ARRIS International

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. The company's Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

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Want to see what other hedge funds are holding ARRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARRIS International plc (NASDAQ:ARRS).

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

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