Fmr LLC Buys 28,155 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Fmr LLC raised its stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 903,673 shares of the communications equipment provider’s stock after purchasing an additional 28,155 shares during the quarter. Fmr LLC’s holdings in CommScope were worth $5,521,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COMM. Assenagon Asset Management S.A. bought a new stake in shares of CommScope in the 3rd quarter worth approximately $11,023,000. Bank of Montreal Can acquired a new position in shares of CommScope in the third quarter valued at $7,023,000. Acadian Asset Management LLC lifted its position in CommScope by 319.3% in the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares during the period. Millennium Management LLC boosted its stake in CommScope by 19.9% during the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after buying an additional 840,742 shares in the last quarter. Finally, Marathon Asset Management LP increased its stake in 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 valued at $2,152,000 after acquiring an additional 750,000 shares during the period. 88.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, CommScope currently has an average rating of “Hold” and a consensus price target of $2.50.

CommScope Trading Down 0.7 %

NASDAQ COMM opened at $5.75 on Friday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -1.30 and a beta of 1.95. The company has a 50 day moving average of $5.55 and a 200-day moving average of $3.83. CommScope Holding Company, Inc. has a 1-year low of $0.86 and a 1-year high of $7.19.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, analysts forecast that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

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.