PC Tel (NASDAQ:PCTI) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of PC Tel (NASDAQ:PCTI) from a buy rating to a hold rating in a research report sent to investors on Saturday, 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. “

PCTI has been the topic of a number of other research reports. TheStreet raised shares of PC Tel from a c rating to a b- rating in a research note on Monday, September 9th. ValuEngine downgraded shares of PC Tel from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Lake Street Capital upped their price target on shares of PC Tel from $6.00 to $8.00 and gave the company a buy rating in a research note on Friday. Finally, B. Riley raised 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 research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $6.92.

NASDAQ PCTI traded up $1.03 during trading hours on Friday, hitting $8.19. 290,700 shares of the company’s stock traded hands, compared to its average volume of 89,899. The business’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $5.94. PC Tel has a 52 week low of $3.88 and a 52 week high of $8.83. The firm has a market capitalization of $132.00 million, a P/E ratio of -35.61 and a beta of -0.17.

PC Tel (NASDAQ:PCTI) last issued its earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share for the quarter, topping 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 firm had revenue of $23.50 million during the quarter, compared to analyst estimates of $22.40 million. As a group, equities analysts predict that PC Tel will post 0.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, November 7th. PC Tel’s payout ratio is -95.65%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its stake in PC Tel by 13.1% during the third quarter. Assenagon Asset Management S.A. now owns 98,889 shares of the Wireless communications provider’s stock valued at $831,000 after purchasing an additional 11,489 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in PC Tel by 52.5% during the second quarter. Jacobs Levy Equity Management Inc. now owns 35,682 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 12,290 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in PC Tel by 24.4% during the second 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 in the last quarter. JPMorgan Chase & Co. raised its stake in PC Tel by 152.3% during the second quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock valued at $123,000 after purchasing an additional 16,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in PC Tel by 2.6% during the second quarter. Vanguard Group Inc. now owns 704,491 shares of the Wireless communications provider’s stock valued at $3,121,000 after purchasing an additional 17,798 shares in the last quarter. 60.66% of the stock is currently owned by institutional investors.

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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