10 Best Low Priced Technology Stocks To Buy Now

3. CommScope Holding Company Inc. (NASDAQ:COMM)

Share Price as of December 24: $5.69

Number of Hedge Fund Holders: 38

CommScope Holding Company Inc. (NASDAQ:COMM) is a leading American provider of communications technology and network infrastructure solutions. The company specializes in designing, manufacturing, and supporting the hardware and software that enable effective digital communication.

In the third quarter of 2024, CommScope Holding Company Inc. (NASDAQ:COMM) reported net sales of $1.082 billion, a 3% increase from the previous year. The company’s core adjusted EBITDA reached $220 million, reflecting a remarkable 25% growth year-over-year. This performance was largely driven by the Connectivity and Cable Solutions (CCS) segment, which saw its adjusted EBITDA surge by 115% to $174 million. These results were supported by the strong demand from the hyperscale and cloud data center business as the industry’s need for bandwidth and data center capacity continues to rise. In the third quarter, the company approved an additional capacity expansion project to meet the increasing demand for data center solutions. These investments are anticipated to yield high returns with short payback periods.

Strategically, CommScope Holding Company Inc. (NASDAQ:COMM) is refining its focus. In the third quarter of 2024, the company announced an agreement to divest its Outdoor Wireless Networks (OWN) and Distributed Antenna Systems (DAS) business units. Such moves provide the company with greater flexibility to optimize its capital structure. By concentrating on its core businesses, which now include Connectivity and Cable Solutions (CCS), Access Network Solutions (ANS), and Networking Intelligent Cellular Solutions (NICS), CommScope Holding Company Inc. (NASDAQ:COMM) aims to enhance profitability.

Given these strong financial results and strategic initiatives, CommScope Holding Company Inc. (NASDAQ:COMM) presents a promising investment opportunity. The company’s focus on core operations and capacity expansion positions it well for future growth in an increasingly connected world.