Deutsche Bank AG Acquires 761,605 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Key Points

• Deutsche Bank AG increased its stake in CommScope Holding Company by 8.2%, acquiring an additional 761,605 shares, bringing its total holdings to over 10 million shares valued at approximately $53.4 million.
• Several analysts have raised their ratings for CommScope, with Bank of America upgrading it to a "buy" and setting a target price of $20.00, significantly higher than its previous estimate of $4.00.
• CommScope reported a 31.7% increase in quarterly revenue year-over-year, with a net income of $0.44 earnings per share, beating expectations of $0.24 EPS.

Deutsche Bank AG increased its position in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 8.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,050,618 shares of the communications equipment provider's stock after buying an additional 761,605 shares during the period. Deutsche Bank AG owned about 4.64% of CommScope worth $53,369,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. US Bancorp DE lifted its stake in CommScope by 27.0% in the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider's stock worth $108,000 after purchasing an additional 4,337 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in CommScope in the 1st quarter worth about $412,000. XTX Topco Ltd purchased a new stake in CommScope in the 1st quarter worth about $456,000. Federated Hermes Inc. grew its stake in CommScope by 3.2% in the 1st quarter. Federated Hermes Inc. now owns 662,283 shares of the communications equipment provider's stock worth $3,517,000 after acquiring an additional 20,279 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in CommScope by 1,203.4% in the 1st quarter. Mackenzie Financial Corp now owns 163,767 shares of the communications equipment provider's stock worth $870,000 after acquiring an additional 151,202 shares in the last quarter. Institutional investors own 88.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COMM shares. Bank of America upgraded shares of CommScope from an "underperform" rating to a "buy" rating and upped their target price for the stock from $4.00 to $20.00 in a research note on Thursday, August 7th. Northland Securities set a $20.00 target price on shares of CommScope in a research note on Tuesday, August 5th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Wolfe Research began coverage on shares of CommScope in a report on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CommScope currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Stock Performance

COMM stock opened at $15.23 on Tuesday. The firm's fifty day moving average is $8.23 and its 200 day moving average is $6.09. CommScope Holding Company, Inc. has a one year low of $2.79 and a one year high of $15.85. The firm has a market cap of $3.37 billion, a PE ratio of 5.73, a P/E/G ratio of 0.55 and a beta of 2.38.

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 (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The company's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. Research analysts predict that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal 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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