The Vanguard Group, Inc. recently announced the acquisition of new stake in CommScope Holding Company Inc. (NASDAQ:COMM). The institutional investor has increased its shareholding in the Technology company by 1.69% to 27.81 million shares with purchase of 0.46 million shares. This fresh investment now brings its stake to 13.34% valued currently at $201.34 million. In addition, FPR Partners LLC raised its holdings by 25000.0 to 20.82 million shares. And BlackRock Fund Advisors has lifted its position by 3.98% or 0.5 million shares – to 12.96 million shares.
With over 2.29 million CommScope Holding Company Inc. (COMM) shares trading Tuesday and a closing price of $6.50 on the day, the dollar volume was approximately $14.91 million. The shares have shown a negative half year performance of -47.83% and its price on 03/14/23 lost nearly -0.76%. Currently, there are 207.40M common shares owned by the public and among those 203.16M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for COMM have a consensus price objective of $12.22. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $9.00. The average price target is 44.44% above its recent price level and an upside to the estimated low will see the stock gain 27.78% over that period. But an upside of 56.67% will see the stock hit the forecast high price target while median target price for the stock is $12.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 793,536 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 225,945 shares.
The top 3 mutual fund holders in CommScope Holding Company Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 6.07 million shares of the company’s stock, all valued at over $43.98 million. The company bought an additional 78375.0 shares recently to bring their total holdings to about 2.91% of the shares outstanding. Vanguard Small Cap Index Fund bought 28006.0 shares to see its total holdings expand to 5.13 million shares valued at over $37.13 million and representing 2.46% of the shares outstanding. iShares Russell 2000 ETF sold 14220.0 shares to bring its total holdings to over 4.49 million shares at a value of $32.52 million. iShares Russell 2000 ETF now owns shares totaling to 2.15% of the shares outstanding.
Shares of CommScope Holding Company Inc. (NASDAQ: COMM) opened at $6.83, up $0.28 from a prior closing price of $6.55. However, the script later moved the day high at 6.92, down -0.76%. The company’s stock has a 5-day price change of -10.84% and -16.24% over the past three months. COMM shares are trading -11.56% year to date (YTD), with the 12-month market performance down to -5.25% lower. It has a 12-month low price of $5.56 and touched a high of $13.73 over the same period. COMM has an average intraday trading volume of 2.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -15.09%, -18.30%, and -27.28% respectively.
Institutional ownership of CommScope Holding Company Inc. (NASDAQ: COMM) shares accounts for 93.30% of the company’s 207.40M shares outstanding. Mutual fund holders own 38.16%, while other institutional holders and individual stakeholders account for 54.75% and 12.82% respectively.
It has a market capitalization of $1.40B and a beta (3y monthly) value of 1.88. The earnings-per-share (ttm) stands at -$6.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.83% over the week and 5.54% over the month.
Analysts forecast that CommScope Holding Company Inc. (COMM) will achieve an EPS of $0.49 for the current quarter, $0.44 for the next quarter and $2.18 for 2023. The lowest estimate earnings-per-share for the quarter is $0.4 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -154.10%, and 21.27% over the next financial year. EPS should grow at an annualized rate of 14.80% over the next five years, compared to -56.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate CommScope Holding Company Inc. (COMM) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 5 of the 11 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the COMM, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on January 12, 2023, with the firm’s price target at $8-$15. Credit Suisse coverage for the CommScope Holding Company Inc. (COMM) stock in a research note released on October 04, 2022 offered a Outperform rating with a price target of $17. Goldman on their part issued Neutral rating on April 01, 2022.
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