Federated Hermes Inc. Acquires 20,279 Shares of CommScope Holding Company, Inc. (NASDAQ:COMM)

Federated Hermes Inc. increased its holdings in shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,283 shares of the communications equipment provider's stock after purchasing an additional 20,279 shares during the period. Federated Hermes Inc. owned approximately 0.31% of CommScope worth $3,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in CommScope in the fourth quarter valued at $27,000. Sterling Capital Management LLC grew its position 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 worth $35,000 after acquiring an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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. Caliber Wealth Management LLC KS purchased a new stake in CommScope during the 1st quarter valued at approximately $57,000. Finally, Covestor Ltd purchased a new position in CommScope in the 4th quarter valued at $62,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

CommScope Price Performance

Shares of CommScope stock traded down $0.33 during midday trading on Wednesday, hitting $14.44. 11,683,707 shares of the company were exchanged, compared to its average volume of 6,001,541. The firm has a 50 day simple moving average of $7.51 and a 200-day simple moving average of $5.83. CommScope Holding Company, Inc. has a 52 week low of $2.09 and a 52 week high of $15.65. The firm has a market cap of $3.13 billion, a P/E ratio of 5.43, a PEG ratio of 0.42 and a beta of 2.38.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. CommScope had a negative return on equity of 5.96% and a net margin of 16.61%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company earned $0.34 EPS. The business's quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on COMM shares. Wolfe Research assumed coverage on CommScope in a report on Monday, July 7th. They issued a "peer perform" rating for the company. Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Tuesday. Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Northland Securities set a $20.00 target price on CommScope in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CommScope has a consensus rating of "Moderate Buy" and a consensus target price of $13.70.

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.