CommScope (NASDAQ:COMM) Reaches New 1-Year High - Here's What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.58 and last traded at $8.28, with a volume of 7820614 shares changing hands. The stock had previously closed at $8.20.

Analysts Set New Price Targets

COMM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.88.

CommScope Trading Up 1.0%

The business's 50-day simple moving average is $5.76 and its two-hundred day simple moving average is $5.29. The company has a market capitalization of $1.79 billion, a PE ratio of 3.03, a PEG ratio of 0.34 and a beta of 2.37.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.07 by $0.07. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company's revenue was up 23.5% compared to the same quarter last year. On average, analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC grew its holdings in CommScope by 166.3% during the 1st quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider's stock worth $1,093,000 after acquiring an additional 128,511 shares in the last quarter. Strs Ohio bought a new position in shares of CommScope during the first quarter worth about $300,000. Bayforest Capital Ltd bought a new position in shares of CommScope during the first quarter worth about $412,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CommScope by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 520,677 shares of the communications equipment provider's stock worth $2,765,000 after purchasing an additional 39,064 shares in the last quarter. Finally, Optimize Financial Inc bought a new stake in CommScope in the first quarter valued at about $1,710,000. Institutional investors own 88.04% of the company's stock.

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.