Zacks Investment Research Downgrades Westell Technologies (WSTL) to Hold

Zacks Investment Research lowered shares of Westell Technologies (NASDAQ:WSTL) from a buy rating to a hold rating in a research note released on Saturday morning.

According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “

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Several other equities research analysts have also commented on the stock. ValuEngine raised shares of Westell Technologies from a hold rating to a buy rating in a research report on Friday, February 2nd. TheStreet raised shares of Westell Technologies from a d+ rating to a c- rating in a research report on Friday, December 15th.

NASDAQ WSTL opened at $3.33 on Friday. Westell Technologies has a 52 week low of $2.48 and a 52 week high of $4.60. The stock has a market cap of $51.79, a PE ratio of -10.41 and a beta of 1.43.

Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.05. Westell Technologies had a net margin of 0.62% and a return on equity of 7.42%. The firm had revenue of $13.68 million during the quarter, compared to analyst estimates of $15.04 million. sell-side analysts expect that Westell Technologies will post 0.3 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WSTL. Royce & Associates LP increased its position in shares of Westell Technologies by 107.5% during the 3rd quarter. Royce & Associates LP now owns 552,938 shares of the communications equipment provider’s stock valued at $1,642,000 after purchasing an additional 286,405 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Westell Technologies during the 4th quarter valued at about $1,024,000. Alambic Investment Management L.P. purchased a new stake in shares of Westell Technologies during the 4th quarter valued at about $112,000. Virtu Financial LLC purchased a new stake in shares of Westell Technologies during the 4th quarter valued at about $122,000. Finally, Renaissance Technologies LLC grew its stake in shares of Westell Technologies by 7.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,121,251 shares of the communications equipment provider’s stock valued at $4,205,000 after acquiring an additional 79,193 shares during the period. 28.00% of the stock is owned by hedge funds and other institutional investors.

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Westell Technologies Company Profile

Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).

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