CommScope Holding Co. (COMM) Stock Price Up 3.5%
CommScope Holding Co. (NASDAQ:COMM)’s share price rose 3.5% during mid-day trading on Wednesday . The company traded as high as $30.54 and last traded at $30.21, with a volume of 3,129,703 shares trading hands. The stock had previously closed at $29.19.
COMM has been the subject of a number of analyst reports. BTIG Research initiated coverage on CommScope Holding in a research note on Friday, June 17th. They set a “buy” rating and a $41.00 price target for the company. Goldman Sachs Group Inc. upgraded CommScope Holding from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $35.00 in a research note on Monday, May 9th. Deutsche Bank AG restated a “buy” rating on shares of CommScope Holding in a research note on Wednesday, June 15th. Drexel Hamilton restated a “buy” rating on shares of CommScope Holding in a research note on Tuesday, May 17th. Finally, Jefferies Group restated a “buy” rating and issued a $38.00 target price on shares of CommScope Holding in a research note on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.85.
The stock’s 50 day moving average price is $30.23 and its 200 day moving average price is $28.65. The firm’s market cap is $5.74 billion.
CommScope Holding (NASDAQ:COMM) last announced its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. Equities analysts forecast that CommScope Holding Co. will post $2.50 earnings per share for the current fiscal year.
In other CommScope Holding news, CEO Marvin S. Edwards, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $32.15, for a total transaction of $3,215,000.00. Following the completion of the transaction, the chief executive officer now owns 170,794 shares of the company’s stock, valued at $5,491,027.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter U. Karlsson sold 7,796 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $30.06, for a total transaction of $234,347.76. The disclosure for this sale can be found here.
An institutional investor recently raised its position in CommScope Holding stock. Jennison Associates LLC raised its position in shares of CommScope Holding Co. (NASDAQ:COMM) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 681,481 shares of the company’s stock after buying an additional 101,215 shares during the period. Jennison Associates LLC owned 0.36% of CommScope Holding worth $17,644,000 at the end of the most recent reporting period.
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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