California Public Employees Retirement System increased its stake in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 242.5% during the second quarter, Holdings Channel reports. The firm owned 340,395 shares of the company’s stock after buying an additional 241,000 shares during the period. California Public Employees Retirement System owned 2.10% of Comtech Telecommunications Corp. worth $4,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Uniplan Investment Counsel Inc. raised its position in shares of Comtech Telecommunications Corp. by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 215,250 shares of the company’s stock valued at $5,030,000 after buying an additional 746 shares during the period. UBS Asset Management Americas Inc. bought a new position in shares of Comtech Telecommunications Corp. during the first quarter valued at about $236,000. State Street Corp raised its position in shares of Comtech Telecommunications Corp. by 4.9% in the first quarter. State Street Corp now owns 438,623 shares of the company’s stock valued at $10,254,000 after buying an additional 20,316 shares during the period. Royce & Associates LP raised its position in shares of Comtech Telecommunications Corp. by 4.4% in the first quarter. Royce & Associates LP now owns 809,893 shares of the company’s stock valued at $18,927,000 after buying an additional 34,000 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Comtech Telecommunications Corp. by 99.9% in the first quarter. JPMorgan Chase & Co. now owns 698,107 shares of the company’s stock valued at $16,315,000 after buying an additional 348,825 shares during the period. Institutional investors own 83.12% of the company’s stock.

Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 1.21% during mid-day trading on Monday, hitting $13.35. 215,120 shares of the stock were exchanged. The firm’s market capitalization is $215.88 million. Comtech Telecommunications Corp. has a 52 week low of $11.24 and a 52 week high of $27.58. The company’s 50-day moving average price is $13.07 and its 200 day moving average price is $18.36.

Several brokerages recently issued reports on CMTL. Zacks Investment Research lowered shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. BMO Capital Markets assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 price target for the company. Ladenburg Thalmann assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 price target for the company. Jefferies Group assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 price target for the company. Finally, Citigroup Inc. assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Wednesday, August 24th. They set a “neutral” rating and a $13.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Comtech Telecommunications Corp. presently has an average rating of “Buy” and an average price target of $19.00.

About Comtech Telecommunications Corp.

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions. The Company operates through three segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. Its telecommunications transmission segment provides equipment and systems used for satellite transmission and enable wireless communications.

5 Day Chart for NASDAQ:CMTL

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