Needham Investment Management LLC Sells 514,100 Shares of Comtech Telecommunications Corp. $CMTL

Needham Investment Management LLC trimmed its holdings in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,174,300 shares of the communications equipment provider’s stock after selling 514,100 shares during the period. Needham Investment Management LLC owned about 3.96% of Comtech Telecommunications worth $6,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMTL. Kestra Advisory Services LLC bought a new position in Comtech Telecommunications during the 4th quarter worth about $26,000. Cresset Asset Management LLC bought a new position in Comtech Telecommunications during the 3rd quarter worth about $39,000. Dynamic Technology Lab Private Ltd bought a new position in Comtech Telecommunications during the 1st quarter worth about $59,000. Cetera Investment Advisers grew its holdings in Comtech Telecommunications by 25.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock worth $62,000 after acquiring an additional 5,192 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in 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 worth $71,000 after acquiring an additional 20,726 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Comtech Telecommunications Stock Down 42.9%

NASDAQ:CMTL opened at $2.76 on Tuesday. Comtech Telecommunications Corp. has a fifty-two week low of $1.80 and a fifty-two week 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. The company’s 50-day simple moving average is $4.18 and its 200-day simple moving average is $4.52.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings results on Monday, March 16th. The communications equipment provider reported ($0.18) earnings per share 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 business had revenue of $106.76 million for the quarter, compared to analysts’ expectations of $113.85 million. On average, equities analysts anticipate that Comtech Telecommunications Corp. will post -0.91 earnings per share for the current fiscal year.

Comtech Telecommunications News Roundup

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

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.