CommScope (NASDAQ:COMM) Share Price Passes Above 50 Day Moving Average – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on COMM shares. Northland Securities set a $25.00 price target on shares of CommScope in a research note on Friday, October 31st. Zacks Research cut shares of CommScope from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Bank of America boosted their price target on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CommScope in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.40.

CommScope Stock Up 1.9%

The business has a fifty day moving average price of $18.61 and a 200-day moving average price of $15.71. The company has a market cap of $4.30 billion, a P/E ratio of 5.92, a PEG ratio of 0.85 and a beta of 2.39.

Institutional Investors Weigh In On CommScope

Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of CommScope by 411.6% in the third quarter. Allworth Financial LP now owns 1,719 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 1,383 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of CommScope during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC increased its holdings in shares of CommScope by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 2,454 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 562 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of CommScope in the third quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of CommScope in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Company Profile

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.