CommScope Holding Co. (COMM) Shares Up 3.5%
CommScope Holding Co. (NASDAQ:COMM) shot up 3.5% on Wednesday . The stock traded as high as $30.54 and last traded at $30.21, with a volume of 3,129,703 shares traded. The stock had previously closed at $29.19.
Several research firms have recently weighed in on COMM. Zacks Investment Research raised shares of CommScope Holding from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Monday, May 2nd. Credit Suisse Group AG reaffirmed a “buy” rating on shares of CommScope Holding in a report on Saturday, April 30th. Credit Agricole SA began coverage on shares of CommScope Holding in a report on Wednesday, June 15th. They issued a “buy” rating and a $40.00 target price on the stock. TheStreet raised shares of CommScope Holding from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of CommScope Holding in a report on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. CommScope Holding presently has a consensus rating of “Buy” and an average target price of $33.85.
The firm’s market cap is $5.73 billion. The stock’s 50-day moving average price is $30.20 and its 200-day moving average price is $28.67.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The company earned $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. The firm’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. Analysts anticipate that CommScope Holding Co. will post $2.50 earnings per share for the current year.
In related news, SVP Peter U. Karlsson sold 7,796 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $30.06, for a total value of $234,347.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marvin S. Edwards, Jr. sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $32.15, for a total value of $3,215,000.00. Following the completion of the transaction, the chief executive officer now directly owns 170,794 shares of the company’s stock, valued at approximately $5,491,027.10. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in CommScope Holding stock. Jennison Associates LLC increased its position in shares of CommScope Holding Co. (NASDAQ:COMM) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 681,481 shares of the company’s stock after buying an additional 101,215 shares during the period. Jennison Associates LLC owned about 0.36% of CommScope Holding worth $17,644,000 as of its most recent SEC filing.
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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