Intech Investment Management LLC Trims Holdings in CommScope Holding Company, Inc. $COMM

Intech Investment Management LLC reduced its position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) by 36.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 96,470 shares of the communications equipment provider’s stock after selling 56,315 shares during the quarter. Intech Investment Management LLC’s holdings in CommScope were worth $799,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COMM. Deutsche Bank AG lifted its stake in shares of CommScope by 8.2% during the first quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider’s stock valued at $53,369,000 after buying an additional 761,605 shares during the period. Goldman Sachs Group Inc. raised its holdings in CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock valued at $50,437,000 after acquiring an additional 6,743,929 shares during the last quarter. Apollo Management Holdings L.P. acquired a new stake in shares of CommScope during the first quarter worth $32,806,000. Nuveen LLC purchased a new stake in shares of CommScope in the first quarter valued at $13,507,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of CommScope in the second quarter valued at $13,842,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COMM. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Raymond James Financial upgraded shares of CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Tuesday, August 5th. Northland Capmk upgraded shares of CommScope from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Northland Securities set a $25.00 price target on shares of CommScope in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, CommScope currently has an average rating of “Moderate Buy” and a consensus price target of $16.17.

CommScope Stock Performance

COMM opened at $19.53 on Thursday. CommScope Holding Company, Inc. has a 1 year low of $2.94 and a 1 year high of $19.99. The firm has a 50 day moving average price of $16.26 and a 200 day moving average price of $12.23. The company has a market cap of $4.33 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.93 and a beta of 2.43.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.25. CommScope had a net margin of 17.57% and a negative return on equity of 13.70%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was up 50.6% on a year-over-year basis. On average, sell-side analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.