Teacher Retirement System of Texas Acquires 56,604 Shares of CommScope Holding Company, Inc. $COMM

Teacher Retirement System of Texas lifted its holdings in CommScope Holding Company, Inc. (NASDAQ:COMM) by 116.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 105,271 shares of the communications equipment provider’s stock after purchasing an additional 56,604 shares during the period. Teacher Retirement System of Texas’ holdings in CommScope were worth $872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in CommScope by 6.0% in 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 in the last quarter. Hussman Strategic Advisors Inc. boosted its position in CommScope by 100.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the communications equipment provider’s stock valued at $1,115,000 after acquiring an additional 105,000 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of CommScope by 1,152.3% in the 1st quarter. Allianz Asset Management GmbH now owns 186,600 shares of the communications equipment provider’s stock valued at $991,000 after acquiring an additional 171,700 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of CommScope in the 1st quarter worth $252,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of CommScope in the 1st quarter worth $385,000. 88.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COMM has been the topic of a number of recent research reports. Northland Capmk raised CommScope from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Bank of America upgraded shares of CommScope from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $20.00 in a research note on Thursday, August 7th. Wall Street Zen raised shares of CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, Morgan Stanley raised shares of CommScope from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.58.

CommScope Trading Up 2.1%

NASDAQ:COMM opened at $16.65 on Friday. The company has a market capitalization of $3.69 billion, a P/E ratio of 5.08, a PEG ratio of 0.44 and a beta of 2.43. CommScope Holding Company, Inc. has a 12 month low of $2.94 and a 12 month high of $17.93. The firm has a fifty day simple moving average of $15.94 and a 200-day simple moving average of $10.98.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.25. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.37 billion. CommScope had a negative return on equity of 13.70% and a net margin of 17.57%.The firm’s revenue was up 50.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. Equities analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

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.