Zacks Investment Research upgraded shares of PC Tel (NASDAQ:PCTI) from a hold rating to a buy rating in a research note published on Saturday, Zacks.com reports. They currently have $5.00 price objective on the Wireless communications provider’s stock.
According to Zacks, “PCTEL designs, develops, and delivers wireless solutions. PCTEL’s products include wireless local area network software products that simplify installation, roaming, Internet access and billing. Its subsidiary, DTI, designs, develops and distributes software-defined receivers and receiver-based products that measure, monitor and optimize the performance of cellular and Wi-Fi networks. . MAXRAD designs, develops, manufactures, and distributes innovative antenna solutions that facilitate and simplify wireless communications. “
Other research analysts have also issued reports about the stock. Lake Street Capital upgraded shares of PC Tel from a hold rating to a buy rating and lifted their price objective for the company from $5.00 to $6.00 in a research note on Friday, August 9th. ValuEngine upgraded shares of PC Tel from a hold rating to a buy rating in a research note on Saturday. Finally, B. Riley upgraded shares of PC Tel from a neutral rating to a buy rating and lifted their price objective for the company from $5.00 to $6.50 in a research note on Friday, August 9th.
PC Tel stock opened at $5.63 on Friday. PC Tel has a 1-year low of $3.88 and a 1-year high of $6.00. The stock has a market cap of $104.43 million, a price-to-earnings ratio of -24.48 and a beta of 0.04. The firm has a 50 day simple moving average of $4.84.
PC Tel (NASDAQ:PCTI) last released its quarterly earnings data on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. PC Tel had a negative net margin of 12.16% and a negative return on equity of 0.48%. The business had revenue of $23.50 million during the quarter, compared to analyst estimates of $22.40 million. As a group, equities research analysts predict that PC Tel will post 0.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be paid a $0.055 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.22 dividend on an annualized basis and a yield of 3.91%. PC Tel’s dividend payout ratio is -95.65%.
A number of institutional investors have recently added to or reduced their stakes in PCTI. BlackRock Inc. boosted its holdings in PC Tel by 3.4% in the 4th quarter. BlackRock Inc. now owns 532,307 shares of the Wireless communications provider’s stock valued at $2,284,000 after purchasing an additional 17,488 shares during the period. Rutabaga Capital Management LLC MA boosted its holdings in PC Tel by 69.3% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 941,895 shares of the Wireless communications provider’s stock valued at $4,719,000 after purchasing an additional 385,535 shares during the period. Bailard Inc. bought a new position in PC Tel in the 2nd quarter valued at $149,000. Bronfman E.L. Rothschild L.P. boosted its holdings in PC Tel by 24.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 67,935 shares of the Wireless communications provider’s stock valued at $301,000 after purchasing an additional 13,320 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in PC Tel by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,487,633 shares of the Wireless communications provider’s stock valued at $6,590,000 after purchasing an additional 61,363 shares during the period. Institutional investors and hedge funds own 62.99% of the company’s stock.
PC Tel Company Profile
PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.
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