Korea Investment CORP Decreases Stake in Commscope Holding Company Inc (COMM)

Korea Investment CORP trimmed its holdings in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 88.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,262 shares of the communications equipment provider’s stock after selling 531,300 shares during the quarter. Korea Investment CORP’s holdings in Commscope were worth $2,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COMM. Franklin Resources Inc. grew its stake in Commscope by 96.5% in the 1st quarter. Franklin Resources Inc. now owns 8,495,600 shares of the communications equipment provider’s stock worth $339,576,000 after acquiring an additional 4,172,171 shares in the last quarter. Blue Harbour Group L.P. grew its stake in Commscope by 45.8% in the 1st quarter. Blue Harbour Group L.P. now owns 7,738,090 shares of the communications equipment provider’s stock worth $309,291,000 after acquiring an additional 2,431,500 shares in the last quarter. FMR LLC grew its stake in Commscope by 14.2% in the 2nd quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock worth $275,208,000 after acquiring an additional 1,168,575 shares in the last quarter. BlackRock Inc. grew its stake in Commscope by 9.4% in the 2nd quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock worth $300,874,000 after acquiring an additional 884,773 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in Commscope in the 1st quarter worth about $20,401,000.

NASDAQ COMM opened at $27.87 on Tuesday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.67 and a beta of 0.99. Commscope Holding Company Inc has a 12-month low of $26.29 and a 12-month high of $41.60. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16.

Commscope (NASDAQ:COMM) last issued its earnings results on Tuesday, July 31st. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Commscope had a net margin of 4.43% and a return on equity of 24.14%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Commscope Holding Company Inc will post 2.23 earnings per share for the current year.

A number of research firms have recently issued reports on COMM. Rosenblatt Securities reiterated a “hold” rating and set a $32.00 price objective on shares of Commscope in a research note on Sunday, August 5th. Cross Research upgraded shares of Commscope from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Zacks Investment Research downgraded shares of Commscope from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Jefferies Financial Group downgraded shares of Commscope from a “buy” rating to a “hold” rating and dropped their price objective for the company from $35.00 to $30.50 in a research note on Monday, August 6th. Finally, Credit Suisse Group set a $31.00 price objective on shares of Commscope and gave the company a “hold” rating in a research note on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.14.

Commscope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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Institutional Ownership by Quarter for Commscope (NASDAQ:COMM)

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