Deutsche Bank AG Buys 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 stake 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 Securities & Exchange Commission. The institutional investor owned 10,050,618 shares of the communications equipment provider's stock after acquiring an additional 761,605 shares during the quarter. Deutsche Bank AG owned 4.64% of CommScope worth $53,369,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its stake in CommScope by 826.0% during the 4th 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 in the last quarter. Tower Research Capital LLC TRC increased its stake in CommScope by 67.6% during the 4th 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 in the last quarter. Caliber Wealth Management LLC KS bought a new stake in CommScope during the 1st quarter valued at $57,000. Covestor Ltd bought a new stake in CommScope during the 4th quarter valued at $62,000. Finally, KBC Group NV bought a new stake in CommScope during the 1st quarter valued at $65,000. Institutional investors own 88.04% of the company's stock.

CommScope Trading Up 2.9%

Shares of NASDAQ:COMM traded up $0.43 during midday trading on Friday, reaching $15.50. The company had a trading volume of 10,744,092 shares, compared to its average volume of 10,341,503. The company's 50 day moving average price is $8.97 and its 200 day moving average price is $6.37. The stock has a market cap of $3.43 billion, a P/E ratio of 5.83, a P/E/G ratio of 0.54 and a beta of 2.38. CommScope Holding Company, Inc. has a 52-week low of $2.94 and a 52-week high of $15.85.

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup raised shares of CommScope to an "outperform" rating in a report on Monday, August 4th. Finally, Wolfe Research assumed coverage on shares of CommScope in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CommScope has an average rating of "Moderate Buy" and a consensus target price of $14.75.

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.