Needham Investment Management LLC Decreases Stake in Comtech Telecommunications Corp. $CMTL

Needham Investment Management LLC cut its holdings in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 30.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,174,300 shares of the communications equipment provider’s stock after selling 514,100 shares during the quarter. Needham Investment Management LLC’s holdings in Comtech Telecommunications were worth $6,212,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Comtech Telecommunications during the 1st quarter valued at approximately $59,000. Goldman Sachs Group Inc. increased its holdings in shares of Comtech Telecommunications by 86.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock valued at $71,000 after purchasing an additional 20,726 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Comtech Telecommunications by 25.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after purchasing an additional 5,192 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Comtech Telecommunications by 87.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 117,965 shares of the communications equipment provider’s stock valued at $289,000 after purchasing an additional 54,879 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Comtech Telecommunications by 15.4% during the 2nd quarter. Marshall Wace LLP now owns 269,932 shares of the communications equipment provider’s stock valued at $661,000 after purchasing an additional 36,069 shares in the last quarter.

Comtech Telecommunications News Summary

Here are the key news stories impacting Comtech Telecommunications this week:

• Positive Sentiment: Comtech agreed to sell most of its Satellite & Space Communications segment to Gilat, unlocking roughly $143 million–$145 million in net cash and sharpening its focus on higher-priority public safety technology. Article Title
• Positive Sentiment: Q3 earnings came in better than expected on the bottom line, with EPS losses narrower than analysts anticipated, which may support sentiment around execution and restructuring progress. Article Title
• Neutral Sentiment: Revenue missed consensus in Q3, showing that demand remains soft even as the company works through a transformation. Article Title
• Neutral Sentiment: Analysts and commentators are framing the deal as a portfolio reshape and potential turnaround story, but restructuring and execution risks remain. Article Title

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Comtech Telecommunications presently has a consensus rating of “Reduce”.

Comtech Telecommunications Price Performance

Comtech Telecommunications stock opened at $2.76 on Tuesday. The company’s fifty day moving average price is $4.18 and its 200 day moving average price is $4.52. Comtech Telecommunications Corp. has a 1 year low of $1.80 and a 1 year high of $6.21. The stock has a market capitalization of $82.05 million, a P/E ratio of -1.24 and a beta of 1.40. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.23 and a current ratio of 1.69.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings results on Monday, March 16th. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Comtech Telecommunications had a net margin of 2.60% and a return on equity of 50.25%. The firm had revenue of $106.76 million for the quarter, compared to analysts’ expectations of $113.85 million. As a group, equities research analysts anticipate that Comtech Telecommunications Corp. will post -0.91 earnings per share for the current fiscal year.

About Comtech Telecommunications

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.