CommScope Holding Company, Inc. (NASDAQ:COMM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina. “

Several other equities analysts also recently commented on COMM. TheStreet upgraded shares of CommScope Holding from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 target price (down previously from $43.00) on shares of CommScope Holding in a research note on Wednesday, August 9th. Northland Securities reiterated a “hold” rating and set a $28.00 target price on shares of CommScope Holding in a research note on Thursday, August 10th. Longbow Research downgraded shares of CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Finally, Barclays PLC downgraded shares of CommScope Holding from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $41.00 to $36.00 in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.20.

CommScope Holding (NASDAQ COMM) traded down 2.33% during mid-day trading on Tuesday, reaching $32.32. The company’s stock had a trading volume of 958,083 shares. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 26.98 and a beta of 1.19. The company’s 50-day moving average price is $33.14 and its 200 day moving average price is $36.42. CommScope Holding has a 52 week low of $29.91 and a 52 week high of $42.75.

CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.05). The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.23 billion. CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. The business’s revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. On average, equities analysts forecast that CommScope Holding will post $2.22 earnings per share for the current fiscal year.

CommScope Holding announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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In related news, Director Timothy T. Yates purchased 5,000 shares of CommScope Holding stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $32.62 per share, with a total value of $163,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Claudius E. Iv Watts purchased 15,000 shares of CommScope Holding stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average cost of $32.87 per share, with a total value of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in CommScope Holding by 1.2% in the second quarter. Vanguard Group Inc. now owns 15,843,334 shares of the communications equipment provider’s stock valued at $602,522,000 after acquiring an additional 183,790 shares during the last quarter. BlackRock Inc. lifted its position in CommScope Holding by 19.0% in the second quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after acquiring an additional 2,438,894 shares during the last quarter. Capital Research Global Investors lifted its position in CommScope Holding by 478.2% in the second quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after acquiring an additional 11,994,126 shares during the last quarter. FMR LLC lifted its position in CommScope Holding by 6.6% in the second quarter. FMR LLC now owns 11,279,906 shares of the communications equipment provider’s stock valued at $428,975,000 after acquiring an additional 702,210 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in CommScope Holding by 54.5% in the second quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after acquiring an additional 2,930,632 shares during the last quarter.

CommScope Holding Company Profile

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

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Analyst Recommendations for CommScope Holding (NASDAQ:COMM)

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