CommScope Holding Company, Inc. (NASDAQ:COMM) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 725,413 shares of the communications equipment provider's stock after acquiring an additional 41,286 shares during the period. Bank of New York Mellon Corp owned 0.33% of CommScope worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in CommScope during the first quarter worth approximately $143,000. KBC Group NV purchased a new stake in CommScope in the first quarter valued at $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CommScope by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock valued at $632,000 after purchasing an additional 5,909 shares during the period. Legal & General Group Plc raised its position in CommScope by 986.1% in 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. Finally, Tower Research Capital LLC TRC raised its position in 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 valued at $52,000 after purchasing an additional 4,026 shares during the period. 88.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COMM shares. Deutsche Bank Aktiengesellschaft lifted their target price on CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research report on Tuesday, June 24th. Wall Street Zen downgraded CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, Wolfe Research started coverage on CommScope in a report on Monday, July 7th. They issued a "peer perform" rating on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.88.

CommScope Stock Performance

NASDAQ:COMM opened at $7.97 on Friday. The stock has a 50-day simple moving average of $6.92 and a 200-day simple moving average of $5.60. The stock has a market cap of $1.73 billion, a P/E ratio of 2.92, a P/E/G ratio of 0.23 and a beta of 2.38. CommScope Holding Company, Inc. has a 1 year low of $1.80 and a 1 year high of $8.67.

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

CommScope Company 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.

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