PC-Tel (NASDAQ:PCTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $8.25 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 18.53% from the stock’s current price.
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. “
Separately, B. Riley restated a “buy” rating on shares of PC-Tel in a research note on Monday, March 12th.
PC-Tel (NASDAQ:PCTI) last announced its quarterly earnings results on Thursday, March 15th. The Wireless communications provider reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. PC-Tel had a return on equity of 2.15% and a net margin of 4.09%. The firm had revenue of $23.30 million during the quarter, compared to analyst estimates of $23.73 million. During the same quarter in the previous year, the business earned $0.08 EPS. equities research analysts expect that PC-Tel will post 0.21 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Chartwell Investment Partners LLC increased its stake in shares of PC-Tel by 1.8% in the 4th quarter. Chartwell Investment Partners LLC now owns 1,751,082 shares of the Wireless communications provider’s stock valued at $12,905,000 after purchasing an additional 31,740 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in PC-Tel by 0.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,478,515 shares of the Wireless communications provider’s stock worth $10,897,000 after buying an additional 11,962 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in PC-Tel in the 4th quarter worth about $1,824,000. Granite Investment Partners LLC acquired a new stake in PC-Tel in the 4th quarter worth about $1,040,000. Finally, Bank of New York Mellon Corp boosted its holdings in PC-Tel by 403.0% in the 4th quarter. Bank of New York Mellon Corp now owns 103,494 shares of the Wireless communications provider’s stock worth $764,000 after buying an additional 82,917 shares during the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
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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 operates in two segments, Connected Solutions and RF Solutions. The Connected Solutions segment designs and delivers 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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