CommScope (NASDAQ:COMM) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $18.53 and traded as high as $19.77. CommScope shares last traded at $19.4050, with a volume of 5,104,062 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COMM. Bank of America upped their target price on shares of CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Zacks Research cut shares of CommScope from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Northland Securities set a $25.00 price objective on CommScope in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of CommScope in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.40.

CommScope Price Performance

The stock has a market cap of $4.30 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.85 and a beta of 2.39. The company has a 50 day simple moving average of $18.53 and a 200-day simple moving average of $15.60.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COMM. Bank of New York Mellon Corp raised its stake in shares of CommScope by 9.2% during the second quarter. Bank of New York Mellon Corp now owns 792,197 shares of the communications equipment provider’s stock valued at $6,559,000 after acquiring an additional 66,784 shares during the last quarter. Mariner Investment Group LLC purchased a new position in CommScope during the 2nd quarter valued at about $207,000. Segall Bryant & Hamill LLC bought a new position in CommScope during the 2nd quarter valued at approximately $2,466,000. Allspring Global Investments Holdings LLC purchased a new stake in CommScope in the 2nd quarter worth approximately $496,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of CommScope in the 2nd quarter worth approximately $707,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

About CommScope

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.