CommScope (NASDAQ:COMM) Trading Up 6.4% – Should You Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM) was up 6.4% during mid-day trading on Thursday . The stock traded as high as $6.40 and last traded at $6.57. Approximately 1,874,071 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,306,853 shares. The stock had previously closed at $6.17.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price objective on shares of CommScope in a report on Thursday. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, CommScope has a consensus rating of “Hold” and an average price target of $4.00.

CommScope Stock Up 1.0 %

The firm has a market capitalization of $1.37 billion, a PE ratio of -1.44, a PEG ratio of 0.41 and a beta of 1.90. The stock’s fifty day simple moving average is $5.29 and its 200 day simple moving average is $5.29.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of CommScope by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock worth $118,542,000 after purchasing an additional 694,363 shares in the last quarter. Deutsche Bank AG increased its stake in shares of CommScope by 182.2% in the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock worth $48,396,000 after purchasing an additional 5,996,931 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CommScope by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock worth $26,715,000 after purchasing an additional 14,576 shares in the last quarter. State Street Corp increased its stake in shares of CommScope by 9.2% in the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after purchasing an additional 387,466 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of CommScope by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock worth $23,035,000 after purchasing an additional 421,000 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.