Pictet Asset Management Holding SA Acquires New Position in CommScope Holding Company, Inc. (NASDAQ:COMM)

Pictet Asset Management Holding SA bought a new position in shares of CommScope Holding Company, Inc. (NASDAQ:COMM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 32,728 shares of the communications equipment provider’s stock, valued at approximately $171,000.

Several other hedge funds also recently made changes to their positions in COMM. National Bank of Canada FI increased its stake in CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 2,857 shares during the last quarter. Sciencast Management LP bought a new stake in shares of CommScope during the 4th quarter valued at about $56,000. Ballentine Partners LLC acquired a new stake in shares of CommScope during the 4th quarter worth approximately $58,000. Jones Financial Companies Lllp bought a new stake in shares of CommScope in the 4th quarter worth approximately $60,000. Finally, EPIQ Capital Group LLC acquired a new position in CommScope during the 4th quarter valued at approximately $73,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analysts Set New Price Targets

COMM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, December 17th. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. StockNews.com raised CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.75.

CommScope Stock Performance

Shares of NASDAQ COMM opened at $3.36 on Friday. CommScope Holding Company, Inc. has a 1 year low of $0.86 and a 1 year high of $7.19. The firm has a market cap of $727.64 million, a P/E ratio of -0.76, a PEG ratio of 0.41 and a beta of 1.98. The stock has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $5.35.

CommScope Profile

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.