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Comtech's top execs make insider stock buys

Fred Kornberg of Comtech

Fred Kornberg of Comtech Photo Credit: Alejandra Villa

Each week the finance website SeekingAlpha.com lists major insider buys by top executives of publicly traded companies. This week the list includes Michael Porcelain, chief financial officer at Comtech Telecommunications, who bought about $70,000 in company stock on June 14.

"Comtech is a $680 million market cap with a great balance sheet and strong potential growth," the Insider Buying blogger, Steven Kiel, writes.

"This is [Porcelain's] second purchase this year. I had previously highlighted his $30,000 buy in early April," the blog says.

Comtech, based in Melville, develops equipment for advanced telecommunications transmission, mobile data communications and radio frequency microwave amplifiers. It sells to U.S. and international military, government and industrial customers. 

Comtech's chief executive, Fred Kornberg, in photo,  has also been buying his company's stock lately, the blog notes.

The blog opines that because chief financial and chief executive officers "have a better view on the day-to-day activity of the company and are more likely to know of coming catalysts" their buys might be significant indicators of a company's health.

"Yes, they are human too and can be caught up in emotional buying, so use this list as a starting point for research and treat it as simply an indicator," the blog says.

The other three companies SeekingAlpha lists with big chief financial officer buys this week are Bank of South Carolina,  Celgene, of Summit, N.J.,  and Sunstone Hotel Investors of California.

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