California Public Employees Retirement System Purchases 23,000 Shares of Comtech Telecommunications Corp. (CMTL)

California Public Employees Retirement System raised its position in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 387,495 shares of the communications equipment provider’s stock after buying an additional 23,000 shares during the period. California Public Employees Retirement System owned about 1.65% of Comtech Telecommunications Corp. worth $5,712,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CMTL. Bank of New York Mellon Corp increased its position in shares of Comtech Telecommunications Corp. by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 715,651 shares of the communications equipment provider’s stock worth $10,548,000 after buying an additional 43,589 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Comtech Telecommunications Corp. by 11.7% in the first quarter. Great West Life Assurance Co. Can now owns 32,948 shares of the communications equipment provider’s stock worth $485,000 after buying an additional 3,444 shares during the period. Wells Fargo & Company MN increased its position in shares of Comtech Telecommunications Corp. by 5.1% in the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock worth $280,000 after buying an additional 913 shares during the period. Profit Investment Management LLC increased its position in shares of Comtech Telecommunications Corp. by 29.9% in the first quarter. Profit Investment Management LLC now owns 62,694 shares of the communications equipment provider’s stock worth $924,000 after buying an additional 14,442 shares during the period. Finally, Capstone Asset Management Co. increased its position in shares of Comtech Telecommunications Corp. by 1.0% in the first quarter. Capstone Asset Management Co. now owns 23,282 shares of the communications equipment provider’s stock worth $343,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 82.66% of the company’s stock.

Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 18.68 on Tuesday. Comtech Telecommunications Corp. has a one year low of $9.52 and a one year high of $19.80. The firm has a market cap of $440.29 million, a PE ratio of 37.59 and a beta of 1.93. The stock has a 50 day moving average of $16.50 and a 200 day moving average of $13.58.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its quarterly earnings results on Wednesday, June 7th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. Comtech Telecommunications Corp. had a return on equity of 0.81% and a net margin of 2.02%. The firm had revenue of $127.80 million for the quarter, compared to analysts’ expectations of $136.68 million. During the same period in the prior year, the business posted ($0.89) earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Comtech Telecommunications Corp. will post $0.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 17th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, July 13th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is 80.00%.

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A number of brokerages have commented on CMTL. Zacks Investment Research raised shares of Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday. ValuEngine raised shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Noble Financial reissued a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, June 9th. Citigroup Inc. boosted their price target on shares of Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $12.50 price target on shares of Comtech Telecommunications Corp. in a research note on Thursday, June 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Comtech Telecommunications Corp. has an average rating of “Buy” and a consensus target price of $18.50.

Comtech Telecommunications Corp. Company Profile

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.

Institutional Ownership by Quarter for Comtech Telecommunications Corp. (NASDAQ:CMTL)

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