Zacks Investment Research upgraded shares of PC Tel (NASDAQ:PCTI) from a hold rating to a strong-buy rating in a report issued on Friday morning, Zacks.com reports. They currently have $6.25 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. “
Several other research analysts have also commented on PCTI. B. Riley upgraded PC Tel from a neutral rating to a buy rating and lifted their price target for the stock from $5.00 to $6.50 in a report on Friday, August 9th. Lake Street Capital upgraded shares of PC Tel from a hold rating to a buy rating and boosted their price objective for the company from $5.00 to $6.00 in a report on Friday, August 9th. Finally, ValuEngine upgraded shares of PC Tel from a hold rating to a buy rating in a report on Saturday, August 10th.
PC Tel (NASDAQ:PCTI) last posted its quarterly earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. PC Tel had a negative return on equity of 0.48% and a negative net margin of 12.16%. The business had revenue of $23.50 million for the quarter, compared to analyst estimates of $22.40 million. As a group, equities research analysts expect that PC Tel will post 0.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were issued a $0.055 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.22 annualized dividend and a yield of 3.52%. PC Tel’s dividend payout ratio (DPR) is currently -95.65%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp acquired a new position in PC Tel in the 4th quarter valued at about $111,000. JPMorgan Chase & Co. grew its position in PC Tel by 152.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock valued at $123,000 after acquiring an additional 16,600 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in PC Tel in the 1st quarter valued at about $145,000. Bailard Inc. acquired a new position in PC Tel in the 2nd quarter valued at about $149,000. Finally, Jacobs Levy Equity Management Inc. grew its position in PC Tel by 52.5% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 35,682 shares of the Wireless communications provider’s stock valued at $158,000 after acquiring an additional 12,290 shares in the last quarter. Hedge funds and other institutional investors own 62.13% 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.
Recommended Story: What does the Producer Price Index (PPI) tell investors?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PC Tel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Tel and related companies with MarketBeat.com's FREE daily email newsletter.