LS Investment Advisors LLC purchased a new stake in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) during the second quarter, Holdings Channel reports. The firm purchased 3,005 shares of the communications equipment provider’s stock, valued at approximately $114,000.

Several other institutional investors have also modified their holdings of COMM. Vanguard Group Inc. raised its position in shares of CommScope Holding by 6.2% in the first quarter. Vanguard Group Inc. now owns 15,659,544 shares of the communications equipment provider’s stock valued at $653,159,000 after buying an additional 920,612 shares during the last quarter. BlackRock Inc. raised its stake in shares of CommScope Holding by 13,901.6% in the first quarter. BlackRock Inc. now owns 12,836,653 shares of the communications equipment provider’s stock worth $535,417,000 after buying an additional 12,744,973 shares in the last quarter. FMR LLC raised its stake in shares of CommScope Holding by 10.1% in the first quarter. FMR LLC now owns 10,577,696 shares of the communications equipment provider’s stock worth $441,196,000 after buying an additional 970,424 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of CommScope Holding by 70.1% in the first quarter. Wellington Management Group LLP now owns 9,147,906 shares of the communications equipment provider’s stock worth $381,560,000 after buying an additional 3,770,507 shares in the last quarter. Finally, Boston Partners raised its stake in shares of CommScope Holding by 17.3% in the first quarter. Boston Partners now owns 5,520,008 shares of the communications equipment provider’s stock worth $230,240,000 after buying an additional 815,810 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

CommScope Holding Company, Inc. (COMM) traded up 0.85% during midday trading on Friday, hitting $31.93. The company’s stock had a trading volume of 2,252,802 shares. The company has a market cap of $6.16 billion, a PE ratio of 26.65 and a beta of 1.17. The stock has a 50 day moving average of $35.90 and a 200 day moving average of $38.12. CommScope Holding Company, Inc. has a 52-week low of $28.32 and a 52-week high of $42.75.

CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.05. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities analysts expect that CommScope Holding Company, Inc. will post $2.22 EPS for the current year.

CommScope Holding declared that its Board of Directors has initiated a share buyback plan on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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A number of brokerages recently weighed in on COMM. Northland Securities restated a “hold” rating and set a $28.00 price objective on shares of CommScope Holding in a research report on Thursday. Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective on shares of CommScope Holding in a research report on Thursday, June 8th. Barclays PLC lowered CommScope Holding from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $41.00 to $36.00 in a research report on Friday, August 4th. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday. Finally, BidaskClub upgraded CommScope Holding from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.45.

In related news, Director Timothy T. Yates acquired 5,000 shares of CommScope Holding stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average cost of $32.62 per share, with a total value of $163,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank M. Drendel sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $38.94, for a total value of $584,100.00. The disclosure for this sale can be found here. Insiders have bought 35,000 shares of company stock worth $1,207,400 over the last ninety days. Insiders own 3.33% of the company’s stock.

CommScope Holding Company Profile

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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Institutional Ownership by Quarter for CommScope Holding (NASDAQ:COMM)

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