CommScope Holding Company, Inc. $COMM is FPR Partners LLC's 7th Largest Position

Key Points

• FPR Partners LLC reduced its stake in CommScope by 25.2%, now holding approximately 4.39% of the company's shares worth about $50.49 million.
• CommScope's stock has seen a 2.0% decline recently, with an opening price of $15.39 and a market capitalization of $3.41 billion.
• Analysts have upgraded their ratings for CommScope, with Raymond James and Northland Securities setting target prices of $19.00 and $20.00, respectively.

FPR Partners LLC lowered its stake in CommScope Holding Company, Inc. (NASDAQ:COMM - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,507,593 shares of the communications equipment provider's stock after selling 3,200,000 shares during the period. CommScope comprises 8.7% of FPR Partners LLC's investment portfolio, making the stock its 7th biggest position. FPR Partners LLC owned approximately 4.39% of CommScope worth $50,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new position in CommScope during the first quarter worth approximately $143,000. KBC Group NV acquired a new position in CommScope during the first quarter worth approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CommScope by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock worth $632,000 after buying an additional 5,909 shares during the period. Bank of New York Mellon Corp increased its position in CommScope by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock worth $3,852,000 after buying an additional 41,286 shares during the period. Finally, Legal & General Group Plc increased its position in CommScope by 986.1% during the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock worth $1,066,000 after buying an additional 185,716 shares during the period. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Stock Performance

CommScope stock traded down $0.06 during trading on Wednesday, hitting $16.41. The company's stock had a trading volume of 2,160,401 shares, compared to its average volume of 6,131,542. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 6.18, a P/E/G ratio of 0.56 and a beta of 2.38. The stock's fifty day moving average is $10.34 and its 200 day moving average is $6.90. CommScope Holding Company, Inc. has a 1-year low of $2.94 and a 1-year high of $16.61.

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

Analysts Set New Price Targets

Several research analysts have weighed in on COMM shares. Northland Capmk upgraded CommScope from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a research note on Tuesday, August 5th. Northland Securities set a $20.00 price objective on shares of CommScope in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Bank of America upgraded shares of CommScope from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $4.00 to $20.00 in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.