Lose Video and Audio intermittently when Streaming on Apple TV

I keep losing Audio & Video for a second or two when streaming either directly from Apple TV or when playing from a MacBook through AirPlay on my 4th Gen. Apple TV. I have changed the HDMI Cables, powered off everything and back on, called a Comcast Technician to check on Internet download speeds - in short I have exhausted everything that I knew from a Technical troubleshooting standpoint but the problem persists. At times I lose both Video and Audio and even pressing any button on the Remote does not help either. After a few minutes I might get back the video where it might have paused and if I continue playback, I will again see the blanking of Audio/Video and again the total blank though pressing any button on the Remote will show me the light flickering on the Apple TV but as such nothing happens.

I just took the device to Apple Store and they instead asked me to buy a New Apple TV.

What could be wrong? Is someone facing a similar problem?