Tyers Asset Management LLC raised its stake in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 258.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,344 shares of the communications equipment provider’s stock after purchasing an additional 48,560 shares during the period. Tyers Asset Management LLC’s holdings in Commscope were worth $1,463,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. United Services Automobile Association increased its position in Commscope by 1.8% during the fourth quarter. United Services Automobile Association now owns 34,687 shares of the communications equipment provider’s stock worth $569,000 after purchasing an additional 613 shares during the last quarter. Boston Partners increased its position in Commscope by 0.3% during the first quarter. Boston Partners now owns 204,428 shares of the communications equipment provider’s stock worth $4,442,000 after purchasing an additional 665 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Commscope by 5.8% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,516 shares of the communications equipment provider’s stock worth $271,000 after purchasing an additional 687 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Commscope by 11.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock worth $124,000 after acquiring an additional 750 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Commscope by 7.0% in the fourth quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 774 shares in the last quarter. 97.69% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on COMM. ValuEngine raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Raymond James raised shares of Commscope from an “outperform” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, April 3rd. Credit Suisse Group raised shares of Commscope from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $34.00 in a research report on Tuesday, April 2nd. BidaskClub raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. began coverage on shares of Commscope in a research report on Monday, April 22nd. They issued an “overweight” rating for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Commscope presently has an average rating of “Hold” and an average price target of $27.35.
Shares of Commscope stock traded down $0.49 during trading hours on Friday, hitting $15.91. The company’s stock had a trading volume of 2,380,512 shares, compared to its average volume of 2,635,845. Commscope Holding Company Inc has a 1-year low of $15.09 and a 1-year high of $32.48. The firm has a market capitalization of $3.17 billion, a P/E ratio of 7.54, a PEG ratio of 0.36 and a beta of 1.49. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 4.28.
Commscope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Commscope had a net margin of 2.29% and a return on equity of 23.46%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, research analysts expect that Commscope Holding Company Inc will post 2.26 EPS for the current fiscal year.
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Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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