Pictet Asset Management Ltd. bought a new stake in CommScope Holding Company, Inc. (NASDAQ:COMM) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 63,400 shares of the communications equipment provider’s stock, valued at approximately $2,345,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Utah Retirement Systems boosted its position in CommScope Holding by 0.4% in the first quarter. Utah Retirement Systems now owns 23,300 shares of the communications equipment provider’s stock valued at $972,000 after buying an additional 100 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 160 shares during the period. Financial Architects Inc boosted its position in CommScope Holding by 9.8% in the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 322 shares during the period. Parametrica Management Ltd boosted its position in CommScope Holding by 3.8% in the second quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock valued at $411,000 after buying an additional 396 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its position in CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 96.77% of the company’s stock.

CommScope Holding Company, Inc. (NASDAQ:COMM) opened at 33.00 on Tuesday. The stock has a 50 day moving average of $35.00 and a 200 day moving average of $37.93. The company has a market capitalization of $6.37 billion, a PE ratio of 27.55 and a beta of 1.17. CommScope Holding Company, Inc. has a 12-month low of $28.74 and a 12-month high of $42.75.

CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.05. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, equities research analysts predict that CommScope Holding Company, Inc. will post $2.22 EPS for the current year.

CommScope Holding declared that its Board of Directors has authorized a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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Several research firms have commented on COMM. Morgan Stanley upgraded shares of CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 target price for the company in a research report on Thursday, August 17th. Jefferies Group LLC restated a “buy” rating and issued a $43.00 target price on shares of CommScope Holding in a research report on Thursday, June 8th. Barclays PLC cut shares of CommScope Holding from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $41.00 to $36.00 in a research report on Friday, August 4th. Northland Securities restated a “hold” rating and issued a $28.00 target price on shares of CommScope Holding in a research report on Thursday, August 10th. Finally, TheStreet upgraded shares of CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.73.

In related news, Director Timothy T. Yates purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average price of $32.62 per share, with a total value of $163,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Claudius E. Iv Watts purchased 15,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was bought at an average cost of $32.87 per share, for a total transaction of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by insiders.

About CommScope Holding

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

Institutional Ownership by Quarter for CommScope Holding (NASDAQ:COMM)

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