Bank of New York Mellon Corp lowered its position in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 825,471 shares of the communications equipment provider’s stock after selling 34,649 shares during the quarter. Bank of New York Mellon Corp owned about 0.43% of Commscope worth $24,108,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of Commscope in the 2nd quarter worth about $202,000. Sei Investments Co. raised its position in shares of Commscope by 60.3% in the 2nd quarter. Sei Investments Co. now owns 250,242 shares of the communications equipment provider’s stock worth $7,308,000 after purchasing an additional 94,103 shares during the last quarter. Tobam purchased a new position in shares of Commscope in the 2nd quarter worth about $14,555,000. Victory Capital Management Inc. raised its position in shares of Commscope by 657.0% in the 2nd quarter. Victory Capital Management Inc. now owns 460,499 shares of the communications equipment provider’s stock worth $13,449,000 after purchasing an additional 399,670 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Commscope by 770.0% in the 2nd quarter. First Trust Advisors LP now owns 255,986 shares of the communications equipment provider’s stock worth $7,476,000 after purchasing an additional 226,564 shares during the last quarter.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Commscope from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. BidaskClub lowered Commscope from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Jefferies Financial Group lowered Commscope from a “buy” rating to a “hold” rating and lowered their price target for the stock from $35.00 to $30.50 in a research report on Monday, August 6th. Rosenblatt Securities reaffirmed a “hold” rating and issued a $32.00 price target on shares of Commscope in a research report on Sunday, August 5th. Finally, Northland Securities set a $36.00 price target on Commscope and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Commscope presently has a consensus rating of “Hold” and a consensus price target of $36.68.
NASDAQ COMM opened at $30.83 on Friday. Commscope Holding Company Inc has a one year low of $26.29 and a one year high of $41.60. The stock has a market capitalization of $5.93 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57.
Commscope (NASDAQ:COMM) last released its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $0.60 EPS. Commscope’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts expect that Commscope Holding Company Inc will post 2.23 EPS for the current year.
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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