ARRIS International plc (ARRS) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 30 from a previous price target of $28 . Needham advised their investors in a research report released on May 5, 2016.
Many Wall Street Analysts have commented on ARRIS International plc. RBC Capital Mkts Resumed ARRIS International plc on Mar 16, 2016 to “Outperform”, Price Target of the shares are set at $29.ARRIS International plc was Downgraded by Goldman to ” Neutral” on Mar 14, 2016. Shares were Reiterated by Barclays on Feb 18, 2016 to “Overweight” and Lowered the Price Target to $ 37 from a previous price target of $41 .
On the company’s financial health, ARRIS International plc reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.40. The company had revenue of $1617.00 million for the quarter, compared to analysts expectations of $1582.18 million. The company’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
ARRIS International plc closed down -0.03 points or -0.13% at $23.13 with 28,05,192 shares getting traded on Wednesday. Post opening the session at $23.06, the shares hit an intraday low of $22.78 and an intraday high of $23.22 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 9, 2016, Ronald Coppock (PRES, INTL SALES AND MARKETING) sold 25,000 shares at $24.04 per share price. According to the SEC, on Mar 9, 2016, Timothy R O’loughlin (PRESIDENT,NORTH AMERICAN SALES) sold 119,567 shares at $29.78 per share price. On Jan 8, 2016, Philip Charles Baldock (SVP, CHIEF INFORMATION OFFICER) sold 54,687 shares at $29.07 per share price, according to the Form-4 filing with the securities and exchange commission.
ARRIS International plc focuses on the entertainment and communications technology. The Company through its subsidiary ARRIS Group Inc. provides a range of entertainment and communications solutions. 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. The Company focuses on set tops digital video and Internet protocol television (IPTV) distribution systems broadband access infrastructure platforms and associated data and voice customer premises equipment (CPE) which it sells to consumers through retail channels. The Company’s product categories include content delivery and acquisition application and control delivery networks home and business connectivity and devices and video infrastructure. Its services include professional services and systems integration day two services and knowledge services.