Royce & Associates LP lifted its stake in shares of PC-Tel, Inc. (NASDAQ:PCTI) by 507.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 207,269 shares of the Wireless communications provider’s stock after acquiring an additional 173,169 shares during the period. Royce & Associates LP owned 1.26% of PC-Tel worth $1,467,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in PCTI. Acadian Asset Management LLC acquired a new position in shares of PC-Tel during the 1st quarter valued at $121,000. TFS Capital LLC acquired a new position in shares of PC-Tel during the 1st quarter valued at $205,000. Prudential Financial Inc. lifted its position in shares of PC-Tel by 0.8% during the 1st quarter. Prudential Financial Inc. now owns 52,800 shares of the Wireless communications provider’s stock valued at $376,000 after acquiring an additional 400 shares during the period. Spark Investment Management LLC lifted its position in shares of PC-Tel by 200.0% during the 1st quarter. Spark Investment Management LLC now owns 38,400 shares of the Wireless communications provider’s stock valued at $273,000 after acquiring an additional 25,600 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of PC-Tel by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 556,203 shares of the Wireless communications provider’s stock valued at $3,960,000 after acquiring an additional 108,900 shares during the period. Institutional investors own 71.36% of the company’s stock.
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PC-Tel, Inc. (NASDAQ PCTI) opened at 6.10 on Friday. The firm’s 50-day moving average is $6.42 and its 200 day moving average is $6.69. The firm’s market cap is $101.41 million. PC-Tel, Inc. has a 12-month low of $4.86 and a 12-month high of $8.48.
PC-Tel (NASDAQ:PCTI) last released its quarterly earnings results on Tuesday, August 8th. The Wireless communications provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $21.50 million for the quarter, compared to analysts’ expectations of $24.09 million. PC-Tel had a negative net margin of 5.61% and a positive return on equity of 1.60%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Equities analysts forecast that PC-Tel, Inc. will post $0.24 earnings per share for the current year.
Separately, B. Riley reiterated a “buy” rating and set a $9.00 target price on shares of PC-Tel in a research report on Friday, August 4th.
PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.
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