CommScope Holding Company Inc. (NASDAQ:COMM) shares traded -2.02% lower at $3.39 on Wall Street last session.
In accordance with the data, 11 analysts cover CommScope Holding Company Inc. (NASDAQ:COMM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.50 and a low of $3.75, we find $4.75. Given the previous closing price of $3.46, this indicates a potential upside of 37.28 percent. COMM stock price is now -30.36% away from the 50-day moving average and -50.02% away from the 200-day moving average. The market capitalization of the company currently stands at $720.00M.
It has been rated a hold by 8 analysts and a buy by 2. Brokers who have rated the stock have averaged $5.57 as their price target over the next twelve months.
With the price target reduced from $11 to $5.10, Credit Suisse Downgraded its rating from Outperform to Neutral for CommScope Holding Company Inc. (NASDAQ: COMM).
In other news, Carlson John R., SVP & Chief Commercial Officer bought 11,780 shares of the company’s stock on May 11. The stock was bought for $49,942 at an average price of $4.24. Upon completion of the transaction, the SVP & Chief Commercial Officer now directly owns 171,146 shares in the company, valued at $0.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, President and CEO Treadway Charles L. bought 56,155 shares of the business’s stock. A total of $249,783 was incurred on buying the stock at an average price of $4.45. This leaves the insider owning 1,673,549 shares of the company worth $5.67 million. Insiders disposed of 245,511 shares of company stock worth roughly $0.83 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in COMM stock. A new stake in CommScope Holding Company Inc. shares was purchased by WOODLINE PARTNERS LP during the first quarter worth $1,987,000. TREXQUANT INVESTMENT LP invested $1,153,000 in shares of COMM during the first quarter. In the first quarter, JANE STREET GROUP, LLC acquired a new stake in CommScope Holding Company Inc. valued at approximately $465,000. HRT FINANCIAL LP acquired a new stake in COMM for approximately $447,000. HOLOCENE ADVISORS, LP purchased a new stake in COMM valued at around $371,000 in the second quarter. In total, there are 318 active investors with 93.30% ownership of the company’s stock.
CommScope Holding Company Inc. (NASDAQ: COMM) opened at $3.4500 on Wednesday. During the past 12 months, CommScope Holding Company Inc. has had a low of $3.04 and a high of $13.73. The fifty day moving average price for COMM is $4.8465 and a two-hundred day moving average price translates $6.7399 for the stock.
The latest earnings results from CommScope Holding Company Inc. (NASDAQ: COMM) was released for Jun, 2023. According to the Communication Equipment Company, earnings per share came in at $0.19, missing analysts’ expectations of $0.37 by -0.18. This compares to -$0.29 EPS in the same period last year. The net profit margin was -13.80% and return on equity was 95.10% for COMM. The company reported revenue of $1.92 billion for the quarter, compared to $2.3 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.6 percent. For the current quarter, analysts expect COMM to generate $2.04B in revenue.
CommScope Holding Company Inc.(COMM) Company Profile
CommScope Holding Company, Inc. provides infrastructure solutions for communications, data center, and entertainment networks worldwide. It operates through five segments: Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS); Access Network Solutions (ANS); and Home Networks (Home). The CCS segment provides network solutions for indoor and outdoor network applications; and fiber optic and copper connectivity and cable solutions for use in telecommunications, cable television, residential broadband networks, data centers and business enterprises. The OWN segment provides base station antennas, radio frequency filters, tower connectivity, microwave antennas, metro cell products, cabinets, steel towers, accessories, wireless Spectrum management business and Comsearch products. The NICS segment offers indoor and outdoor Wi-Fi and long-term evolution (LTE) access points, access and aggregation switches; an Internet of Things suite, on-premises and cloud-based control and management systems; and software and software-as-a-service applications. The ANS segment offers cable modem termination systems, video infrastructure, distribution and transmission equipment and cloud solutions that enable facility-based service providers to construct a state-of-the-art residential and metro distribution network. The Home segment subscriber-based solutions that support broadband and video applications. The company offers its products and services through independent distributors, specialized resellers and distributors, wireless and wireline operators, original equipment manufacturers, satellite video distributors, and system integrators, as well as directly to customers. The company was formerly known as Cedar I Holding Company, Inc. and changed its name to CommScope Holding Company, Inc. in January 2011. CommScope Holding Company, Inc. was founded in 1976 and is headquartered in Hickory, North Carolina.
