CommScope (NASDAQ:COMM) Reaches New 1-Year High – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares reached a new 52-week high on Monday . The company traded as high as $6.76 and last traded at $6.69, with a volume of 1972615 shares trading hands. The stock had previously closed at $6.22.

Wall Street Analyst Weigh In

COMM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Northland Securities boosted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, CommScope currently has an average rating of “Hold” and a consensus price target of $1.75.

CommScope Stock Performance

The business’s 50 day moving average is $5.46 and its two-hundred day moving average is $2.94. The firm has a market capitalization of $1.46 billion, a PE ratio of -0.78, a price-to-earnings-growth ratio of 0.28 and a beta of 2.10.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. CommScope’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. As a group, equities research analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in CommScope during the third quarter valued at approximately $11,023,000. Acadian Asset Management LLC grew its position in shares of CommScope by 319.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after purchasing an additional 953,171 shares in the last quarter. Millennium Management LLC grew its position in shares of CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares in the last quarter. Marathon Asset Management LP increased its holdings in shares of CommScope by 75.0% in the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after purchasing an additional 750,000 shares during the period. Finally, P Schoenfeld Asset Management LP raised its position in shares of CommScope by 233.3% in the second quarter. P Schoenfeld Asset Management LP now owns 1,000,000 shares of the communications equipment provider’s stock worth $1,230,000 after buying an additional 700,000 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Company Profile

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.