CommScope (NASDAQ:COMM) Reaches New 52-Week High at $5.41

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) hit a new 52-week high during trading on Monday . The stock traded as high as $5.41 and last traded at $5.34, with a volume of 168925 shares trading hands. The stock had previously closed at $5.33.

Wall Street Analysts Forecast Growth

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

CommScope Price Performance

The firm has a market cap of $1.21 billion, a P/E ratio of -0.64, a PEG ratio of 0.23 and a beta of 2.07. The company’s 50 day moving average is $3.22 and its two-hundred day moving average is $1.92.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. CommScope’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. Research analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Trading of CommScope

Several institutional investors have recently made changes to their positions in COMM. Headlands Technologies LLC lifted its holdings in shares of CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 18,722 shares during the period. Allspring Global Investments Holdings LLC boosted its position in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 25,212 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of CommScope by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after purchasing an additional 4,978 shares during the last quarter. RPO LLC bought a new position in CommScope in the 4th quarter worth approximately $92,000. Finally, Fore Capital LLC lifted its holdings in CommScope by 36.5% during the 2nd quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after buying an additional 20,000 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.