Gardner Lewis Asset Management L P Purchases New Holdings in ARRIS International plc (ARRS)

Gardner Lewis Asset Management L P purchased a new stake in ARRIS International plc (NASDAQ:ARRS) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,362,217 shares of the communications equipment provider’s stock, valued at approximately $41,643,000. ARRIS International comprises about 3.8% of Gardner Lewis Asset Management L P’s portfolio, making the stock its 12th largest holding. Gardner Lewis Asset Management L P owned approximately 0.79% of ARRIS International as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARRS. Oregon Public Employees Retirement Fund increased its holdings in ARRIS International by 2,886.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,062,741 shares of the communications equipment provider’s stock valued at $67,000 after acquiring an additional 1,993,677 shares during the last quarter. Delta Capital Management LLC bought a new stake in ARRIS International in the 4th quarter valued at $227,000. Cerebellum GP LLC bought a new stake in ARRIS International in the 4th quarter valued at $254,000. Commonwealth Bank of Australia bought a new stake in ARRIS International in the 3rd quarter valued at $499,000. Finally, Exane Asset Management bought a new stake in ARRIS International in the 4th quarter valued at $629,000. Institutional investors own 83.05% of the company’s stock.

NASDAQ:ARRS traded down $0.01 during midday trading on Friday, reaching $31.67. 8,789 shares of the stock traded hands, compared to its average volume of 2,141,040. ARRIS International plc has a 12-month low of $21.55 and a 12-month high of $31.74. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 12.52 and a beta of 0.92.

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

In other ARRIS International news, SVP James R. Brennan sold 6,350 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $31.66, for a total transaction of $201,041.00. Following the transaction, the senior vice president now owns 46,045 shares in the company, valued at approximately $1,457,784.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Edward Whiting sold 14,067 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $31.65, for a total transaction of $445,220.55. The disclosure for this sale can be found here. Insiders have sold 29,977 shares of company stock valued at $948,740 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on ARRS shares. ValuEngine upgraded shares of ARRIS International from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. BidaskClub upgraded shares of ARRIS International from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Zacks Investment Research downgraded shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Jefferies Financial Group downgraded shares of ARRIS International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $38.00 to $31.75 in a report on Monday, November 26th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.03.

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About ARRIS International

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

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