It looks like you are using TOM rather than TOM.NET
You need to perform a paste action with the folder you want to get the new item into
Something like
objFolder.PasteItem(comp, 1, false)
The first parameter is the item you want to paste, the second is an enumerator (EnumTDSCutCopyAction - 1 is cut (move), 0 is copy ) to say if you want to Copy and Paste or Cut and Paste, and the final one is whether you want to assert a unique name.
In TOM.NET there is a RepositoryLocalObject.Move()
method.