The stock of Commscope Holding Company Inc (NASDAQ:COMM) hit a new 52-week high and has $48.98 target or 39.00% above today’s $35.24 share price. The 9 months bullish chart indicates low risk for the $6.82 billion company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $48.98 price target is reached, the company will be worth $2.66 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 377,190 shares traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has risen 26.66% since April 14, 2016 and is uptrending. It has outperformed by 21.97% the S&P500.
Commscope Holding Company Inc (NASDAQ:COMM) Ratings Coverage
Out of 10 analysts covering CommScope Holding (NASDAQ:COMM), 8 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 80% are positive. $42.50 is the highest target while $22 is the lowest. The $34.55 average target is -1.96% below today’s ($35.24) stock price. CommScope Holding has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Drexel Hamilton initiated the shares of COMM in a report on Friday, July 24 with “Buy” rating. As per Tuesday, February 16, the company rating was upgraded by Raymond James. Morgan Stanley initiated the shares of COMM in a report on Tuesday, September 20 with “Equal-Weight” rating. The rating was reinitiated by Goldman Sachs with “Neutral” on Friday, September 18. Northland Capital initiated it with “Market Perform” rating and $25 target price in Wednesday, September 30 report. The stock has “Buy” rating given by Cross Research on Monday, February 22. As per Friday, June 17, the company rating was initiated by BTIG Research. The firm has “Buy” rating by Goldman Sachs given on Monday, May 9. The firm has “Overweight” rating by JP Morgan given on Thursday, December 17. The firm has “Overweight” rating by Barclays Capital given on Tuesday, November 10.
According to Zacks Investment Research, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina.”
Insitutional Activity: The institutional sentiment increased to 2.12 in 2016 Q2. Its up 1.31, from 0.81 in 2016Q1. The ratio improved, as 15 funds sold all Commscope Holding Company Inc shares owned while 43 reduced positions. 40 funds bought stakes while 83 increased positions. They now own 192.42 million shares or 1.89% less from 196.14 million shares in 2016Q1.
Moreover, Signaturefd Lc has 0.05% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 11,300 shares. Financial Bank Of America De has 0.01% invested in the company for 1.84 million shares. Parametric Portfolio Assoc Lc accumulated 65,708 shares or 0% of the stock. Driehaus Cap Ltd Liability Co accumulated 6,567 shares or 0.01% of the stock. The Colorado-based Advsr Asset Management Incorporated has invested 0.01% in Commscope Holding Company Inc (NASDAQ:COMM). Wellington Mgmt Gru Llp reported 12,151 shares or 0% of all its holdings. Manufacturers Life Insur The accumulated 0% or 5,439 shares. Pitcairn accumulated 0.04% or 11,054 shares. Point72 Asia (Hong Kong) Ltd holds 1,126 shares or 0.04% of its portfolio. Columbus Circle Investors accumulated 1.05% or 3.37M shares. C M Bidwell last reported 610 shares in the company. Tremblant Group Inc has 0.82% invested in the company for 456,637 shares. Amici Cap Lc holds 97,000 shares or 0.57% of its portfolio. Sei reported 288,821 shares or 0.05% of all its holdings. Panagora Asset Mgmt Inc accumulated 4,053 shares or 0% of the stock.
COMM Company Profile
CommScope Holding Company, Inc., incorporated on October 22, 2010, is well-known provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Firm operates through four divisions: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). The Firm also makes coaxial and fiber optic cable for residential broadband networks. Through its Andrew brand, the Company provides merchant radio frequency (RF) wireless network connectivity solutions and small cell distributed antenna system (DAS) solutions. Through its SYSTIMAX, Uniprise and AMP NETCONNECT brands, the Company provides enterprise connectivity solutions, delivering an end-to-end physical layer solution, including connectivity and cables, enclosures, data center and network intelligence software, in-building wireless and network design services for enterprise applications and data centers.
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