Charles Schwab Investment Management Inc. Trims Stock Position in CommScope Holding Company, Inc. $COMM

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in CommScope Holding Company, Inc. by 11.7%, selling 384,056 shares and now holding 2,889,819 shares valued at approximately $15.3 million.
• Analysts have mixed ratings on CommScope, with ratings ranging from Strong Buy to Hold, and a consensus price target of $14.75.
• CommScope reported a 31.7% increase in quarterly revenue compared to the previous year, with an earnings per share (EPS) of $0.44, significantly above the consensus estimate of $0.24.

Charles Schwab Investment Management Inc. cut its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,889,819 shares of the communications equipment provider's stock after selling 384,056 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.33% of CommScope worth $15,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COMM. Sterling Capital Management LLC raised its holdings in shares of CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after buying an additional 4,026 shares in the last quarter. Caliber Wealth Management LLC KS purchased a new stake in CommScope during the first quarter valued at $57,000. KBC Group NV bought a new stake in CommScope in the first quarter worth $65,000. Finally, GAMMA Investing LLC increased its position in CommScope by 717.7% during the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock valued at $85,000 after acquiring an additional 14,066 shares during the last quarter. Institutional investors own 88.04% of the company's stock.

CommScope Price Performance

CommScope stock traded down $0.16 during trading hours on Wednesday, reaching $16.31. The stock had a trading volume of 2,882,887 shares, compared to its average volume of 6,137,006. The business's 50 day moving average price is $10.34 and its 200-day moving average price is $6.90. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.56 and a beta of 2.38. CommScope Holding Company, Inc. has a 52 week low of $2.94 and a 52 week high of $16.61.

CommScope (NASDAQ:COMM - Get Free Report) last announced its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. On average, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COMM. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Northland Securities set a $20.00 price objective on shares of CommScope in a research note on Tuesday, August 5th. Citigroup upgraded CommScope to an "outperform" rating in a report on Monday, August 4th. Northland Capmk upgraded CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Profile

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.