Thrivent Financial for Lutherans Purchases New Holdings in CommScope Holding Company, Inc. $COMM

Thrivent Financial for Lutherans acquired a new position in CommScope Holding Company, Inc. (NASDAQ:COMM) in the 3rd quarter, HoldingsChannel reports. The fund acquired 39,927 shares of the communications equipment provider’s stock, valued at approximately $618,000.

Other large investors have also modified their holdings of the company. Independent Advisor Alliance purchased a new stake in shares of CommScope in the third quarter worth approximately $228,000. Winnow Wealth LLC purchased a new position in CommScope during the 3rd quarter valued at $65,000. AlphaQuest LLC bought a new position in CommScope in the 3rd quarter valued at $36,000. Arizona State Retirement System increased its stake in CommScope by 1.5% in the third quarter. Arizona State Retirement System now owns 60,871 shares of the communications equipment provider’s stock worth $942,000 after purchasing an additional 877 shares during the period. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of CommScope during the third quarter worth $51,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Stock Performance

NASDAQ COMM opened at $19.41 on Tuesday. The company has a market cap of $4.30 billion, a PE ratio of 5.92, a P/E/G ratio of 0.85 and a beta of 2.39. The firm’s 50 day moving average price is $18.98 and its 200-day moving average price is $17.22. CommScope Holding Company, Inc. has a 52-week low of $2.94 and a 52-week high of $20.55.

Wall Street Analyst Weigh In

COMM has been the topic of a number of research analyst reports. Zacks Research cut shares of CommScope from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Northland Securities set a $25.00 price objective on shares of CommScope in a research report on Friday, October 31st. Finally, Bank of America raised their target price on shares of CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, CommScope has an average rating of “Hold” and an average target price of $18.40.

CommScope Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.