CommScope (NASDAQ:COMM) Shares Up 6.9% - Here's What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares rose 6.9% during trading on Wednesday . The company traded as high as $6.09 and last traded at $6.10. Approximately 2,418,513 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 5,329,438 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen downgraded CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $7.00 target price on shares of CommScope in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $4.75.

CommScope Stock Up 5.2%

The firm's fifty day simple moving average is $5.14 and its 200-day simple moving average is $5.18. The firm has a market capitalization of $1.37 billion, a PE ratio of 2.32, a PEG ratio of 0.26 and a beta of 2.29.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. As a group, analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COMM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CommScope by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock worth $632,000 after buying an additional 5,909 shares during the last quarter. Swiss National Bank bought a new stake in shares of CommScope in the fourth quarter worth approximately $2,212,000. Arizona State Retirement System purchased a new position in shares of CommScope during the fourth quarter valued at approximately $326,000. Amundi purchased a new position in shares of CommScope during the fourth quarter valued at approximately $137,000. Finally, Legal & General Group Plc lifted its position in CommScope by 986.1% during the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock valued at $1,066,000 after purchasing an additional 185,716 shares during the period. 88.04% of the stock is owned by institutional investors.

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.