First Eagle Investment (Trades, Portfolio) trimmed its position in Comtech Telecommunications Corp. (CMTL, Financial), a Huntington, New York-based provider of communications solutions, by nearly 17% with the sale of 204,313 shares for $13.83 per share on June 17.
First Eagle Investment (Trades, Portfolio) has reduced its stake in Comtech Telecommunications in four of the last five quarters.
The remaining stake of 1,017,323 shares is 6.29% of Comtech’s outstanding shares and 0.04% of First Eagle’s total assets. First Eagle Investment (Trades, Portfolio) is Comtech’s leading shareholder among the gurus.
On Wednesday Comtech announced that its Santa Clara, California-based subsidiary, Comtech Xicom Technology Inc., has received an amplifier contract for more than $2 million from an unidentified satellite communications operator.
“These amplifiers will be deployed on three continents to launch a major new High Throughput Satellite (HTS) system,” the company said in a press release.
Comtech has a P/B of 0.6 and a P/S of 0.6. GuruFocus gives Comtech a Financial Strength rating of 5/10 and a Profitability and Growth rating of 4/10 with ROE of -1.25% and ROA of -0.90% that are lower than 67% of the companies in the Global Communications Equipment industry.
Comtech sold for $12.85 per share Friday. The DCF Calculator gives Comtech a fair value of $-3.42.
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