California State Teachers Retirement System decreased its position in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,336 shares of the communications equipment provider’s stock after selling 1,712 shares during the period. California State Teachers Retirement System’s holdings in Commscope were worth $5,119,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Commscope by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,641,277 shares of the communications equipment provider’s stock worth $327,324,000 after acquiring an additional 303,348 shares during the last quarter. Rhumbline Advisers lifted its position in Commscope by 2.5% during the 4th quarter. Rhumbline Advisers now owns 172,645 shares of the communications equipment provider’s stock worth $2,830,000 after acquiring an additional 4,221 shares during the last quarter. AQR Capital Management LLC lifted its position in Commscope by 15.1% during the 3rd quarter. AQR Capital Management LLC now owns 20,385 shares of the communications equipment provider’s stock worth $627,000 after acquiring an additional 2,674 shares during the last quarter. Vanguard Group Inc. lifted its position in Commscope by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,155,725 shares of the communications equipment provider’s stock worth $527,711,000 after acquiring an additional 303,966 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Commscope by 45.3% during the 3rd quarter. Hsbc Holdings PLC now owns 36,980 shares of the communications equipment provider’s stock worth $1,138,000 after acquiring an additional 11,522 shares during the last quarter. 99.82% of the stock is owned by hedge funds and other institutional investors.

COMM has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Commscope from a “hold” rating to a “buy” rating and set a $18.20 target price for the company in a research report on Sunday, December 2nd. Credit Suisse Group set a $20.00 target price on shares of Commscope and gave the stock a “neutral” rating in a research report on Thursday, December 20th. Morgan Stanley cut their target price on shares of Commscope from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Zacks Investment Research raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, BidaskClub raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.43.

In related news, Director Frank M. Drendel sold 280,143 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $23.61, for a total value of $6,614,176.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Peter U. Karlsson sold 6,517 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.63, for a total transaction of $147,479.71. The disclosure for this sale can be found here. Insiders own 3.35% of the company’s stock.

NASDAQ:COMM opened at $21.07 on Wednesday. Commscope Holding Company Inc has a 52-week low of $15.09 and a 52-week high of $41.60. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 2.27. The stock has a market cap of $4.01 billion, a PE ratio of 9.92, a P/E/G ratio of 2.59 and a beta of 1.16.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, February 21st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.08. Commscope had a net margin of 3.07% and a return on equity of 23.55%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts expect that Commscope Holding Company Inc will post 2.02 earnings per share for the current year.

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Commscope 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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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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