Traders Buy Large Volume of Call Options on ARRIS International (ARRS)

ARRIS International plc (NASDAQ:ARRS) was the recipient of unusually large options trading on Tuesday. Investors bought 1,535 call options on the company. This represents an increase of approximately 1,405% compared to the typical volume of 102 call options.

Several research firms have recently commented on ARRS. ValuEngine raised ARRIS International from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Jefferies Group set a $38.00 price target on ARRIS International and gave the stock a “buy” rating in a research report on Wednesday, October 4th. TheStreet raised ARRIS International from a “c+” rating to a “b” rating in a research report on Monday, October 9th. Northland Securities set a $25.00 target price on ARRIS International and gave the company a “hold” rating in a research report on Monday, October 16th. Finally, Zacks Investment Research raised ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.00.

ARRIS International (ARRS) traded down $0.02 during trading on Friday, reaching $25.49. The company’s stock had a trading volume of 1,275,967 shares, compared to its average volume of 1,750,000. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4,770.00, a P/E ratio of 29.30, a PEG ratio of 0.97 and a beta of 1.40. ARRIS International has a twelve month low of $24.75 and a twelve month high of $30.79.

ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. ARRIS International had a return on equity of 14.02% and a net margin of 2.51%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. analysts expect that ARRIS International will post 2.32 EPS for the current fiscal year.

In related news, SVP Philip Charles Baldock sold 4,930 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $26.11, for a total transaction of $128,722.30. Following the completion of the transaction, the senior vice president now owns 13,529 shares in the company, valued at approximately $353,242.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lawrence Robinson sold 4,167 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total value of $125,010.00. Following the transaction, the insider now owns 71,721 shares of the company’s stock, valued at approximately $2,151,630. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,347 shares of company stock valued at $290,307. Company insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ARRS. Aperio Group LLC boosted its stake in shares of ARRIS International by 33.7% in the second quarter. Aperio Group LLC now owns 25,776 shares of the communications equipment provider’s stock worth $722,000 after buying an additional 6,492 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in shares of ARRIS International by 188.1% in the second quarter. Marshall Wace North America L.P. now owns 75,745 shares of the communications equipment provider’s stock worth $2,121,000 after buying an additional 49,456 shares during the last quarter. Eii Capital Management Inc. boosted its stake in shares of ARRIS International by 10.5% in the second quarter. Eii Capital Management Inc. now owns 118,675 shares of the communications equipment provider’s stock worth $3,325,000 after buying an additional 11,250 shares during the last quarter. Martingale Asset Management L P purchased a new stake in shares of ARRIS International in the second quarter worth about $2,989,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of ARRIS International by 675.7% in the second quarter. Riverhead Capital Management LLC now owns 49,647 shares of the communications equipment provider’s stock worth $1,391,000 after buying an additional 43,247 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

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About ARRIS International

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.

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