BidaskClub upgraded shares of Commscope (NASDAQ:COMM) from a sell rating to a hold rating in a report issued on Wednesday.
Several other equities research analysts have also recently commented on COMM. Zacks Investment Research cut shares of Commscope from a buy rating to a hold rating in a research report on Tuesday, November 7th. Northland Securities reaffirmed a hold rating on shares of Commscope in a research report on Friday, November 10th. ValuEngine raised shares of Commscope from a hold rating to a buy rating in a research report on Friday, December 1st. Citigroup raised their target price on shares of Commscope to $45.00 and gave the stock a buy rating in a research report on Thursday, January 11th. Finally, Longbow Research raised shares of Commscope from a neutral rating to a buy rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Commscope presently has a consensus rating of Buy and a consensus target price of $42.78.
Commscope (NASDAQ:COMM) traded up $0.56 during trading hours on Wednesday, hitting $40.99. 1,048,890 shares of the stock traded hands, compared to its average volume of 1,878,323. Commscope has a 12-month low of $30.95 and a 12-month high of $42.75. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.07 and a current ratio of 2.69. The stock has a market cap of $7,721.00, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.17 and a beta of 1.09.
In related news, Director Frank M. Drendel sold 60,000 shares of Commscope stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $38.01, for a total transaction of $2,280,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of Commscope stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $40.03, for a total transaction of $2,001,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,575 shares of company stock valued at $8,288,882. 3.33% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of COMM. Franklin Resources Inc. lifted its position in Commscope by 184.1% during the 4th quarter. Franklin Resources Inc. now owns 4,323,429 shares of the communications equipment provider’s stock valued at $163,574,000 after acquiring an additional 2,801,866 shares during the period. JPMorgan Chase & Co. lifted its position in Commscope by 29.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock valued at $350,236,000 after acquiring an additional 2,429,290 shares during the period. Maverick Capital Ltd. purchased a new position in Commscope during the 4th quarter valued at about $75,894,000. Iridian Asset Management LLC CT purchased a new position in Commscope during the 3rd quarter valued at about $40,215,000. Finally, Alyeska Investment Group L.P. purchased a new position in Commscope during the 3rd quarter valued at about $27,219,000.
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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