PC Tel (NASDAQ:PCTI) Downgraded by Zacks Investment Research

PC Tel (NASDAQ:PCTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

A number of other research firms have also recently issued reports on PCTI. ValuEngine upgraded shares of PC Tel from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. B. Riley upgraded shares of PC Tel from a “neutral” rating to a “buy” rating and upped their price target for the company from $5.00 to $6.50 in a report on Friday, August 9th. Finally, Lake Street Capital upgraded shares of PC Tel from a “hold” rating to a “buy” rating and upped their price target for the company from $5.00 to $6.00 in a report on Friday, August 9th.

PC Tel stock opened at $5.31 on Tuesday. The firm has a market capitalization of $99.09 million, a P/E ratio of -23.09 and a beta of 0.03. PC Tel has a one year low of $3.88 and a one year high of $6.00. The stock’s fifty day simple moving average is $4.85.

PC Tel (NASDAQ:PCTI) last released its quarterly earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $23.50 million during the quarter, compared to analysts’ expectations of $22.40 million. On average, equities analysts expect that PC Tel will post 0.05 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in PC Tel by 3.4% during the fourth quarter. BlackRock Inc. now owns 532,307 shares of the Wireless communications provider’s stock valued at $2,284,000 after acquiring an additional 17,488 shares during the period. Rutabaga Capital Management LLC MA lifted its stake in shares of PC Tel by 69.3% in the first quarter. Rutabaga Capital Management LLC MA now owns 941,895 shares of the Wireless communications provider’s stock valued at $4,719,000 after buying an additional 385,535 shares during the period. Bailard Inc. bought a new stake in shares of PC Tel in the second quarter valued at about $149,000. Stifel Financial Corp bought a new stake in shares of PC Tel in the fourth quarter valued at about $111,000. Finally, Renaissance Technologies LLC lifted its stake in shares of PC Tel by 4.3% in the second quarter. Renaissance Technologies LLC now owns 1,487,633 shares of the Wireless communications provider’s stock valued at $6,590,000 after buying an additional 61,363 shares during the period. Institutional investors own 62.99% of the company’s stock.

About PC Tel

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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