CommScope (NASDAQ:COMM) Sets New 52-Week High – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.09 and last traded at $19.9450, with a volume of 311048 shares traded. The stock had previously closed at $19.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Northland Securities set a $25.00 target price on shares of CommScope in a research note on Friday, October 31st. Morgan Stanley raised shares of CommScope from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $4.00 to $17.00 in a research report on Tuesday, August 5th. Northland Capmk upgraded CommScope from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Citigroup raised CommScope to an “outperform” rating in a research note on Monday, August 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CommScope in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, CommScope has an average rating of “Moderate Buy” and an average price target of $16.17.

CommScope Stock Down 0.3%

The stock’s 50 day moving average is $16.45 and its two-hundred day moving average is $12.57. The company has a market capitalization of $4.35 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.94 and a beta of 2.38.

Institutional Investors Weigh In On CommScope

Several institutional investors and hedge funds have recently added to or reduced their stakes in COMM. Banque Transatlantique SA acquired a new position in shares of CommScope during the first quarter valued at approximately $34,000. AlphaQuest LLC acquired a new position in shares of CommScope during the 3rd quarter valued at about $36,000. Bayforest Capital Ltd acquired a new stake in CommScope during the third quarter worth about $38,000. Harbor Capital Advisors Inc. purchased a new position in CommScope during the third quarter worth about $43,000. Finally, Wolff Wiese Magana LLC acquired a new position in CommScope in the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

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.