PC Tel (NASDAQ:PCTI) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of PC Tel (NASDAQ:PCTI) from a hold rating to a strong-buy rating in a report published on Friday, Zacks.com reports. The firm currently has $6.25 price target 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. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of PC Tel from a hold rating to a buy rating in a research note on Saturday, August 10th. Lake Street Capital raised shares of PC Tel from a hold rating to a buy rating and raised their price objective for the stock from $5.00 to $6.00 in a research note on Friday, August 9th. Finally, B. Riley raised shares of PC Tel from a neutral rating to a buy rating and raised their price objective for the stock from $5.00 to $6.50 in a research note on Friday, August 9th.



Shares of NASDAQ:PCTI opened at $6.25 on Friday. The company has a market cap of $100.57 million, a PE ratio of -27.17 and a beta of 0.03. PC Tel has a twelve month low of $3.88 and a twelve month high of $6.46. The company’s 50 day moving average is $4.98 and its 200 day moving average is $5.02.

PC Tel (NASDAQ:PCTI) last issued its quarterly earnings data on Thursday, August 8th. The Wireless communications provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $23.50 million for the quarter, compared to analysts’ expectations of $22.40 million. PC Tel had a negative net margin of 12.16% and a negative return on equity of 0.48%. On average, research analysts anticipate that PC Tel will post 0.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.52%. PC Tel’s payout ratio is -95.65%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in PC Tel by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,487,633 shares of the Wireless communications provider’s stock valued at $6,590,000 after acquiring an additional 61,363 shares during the period. Rutabaga Capital Management LLC MA grew its stake in PC Tel by 69.3% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 941,895 shares of the Wireless communications provider’s stock valued at $4,719,000 after acquiring an additional 385,535 shares during the period. Vanguard Group Inc. grew its stake in PC Tel by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 704,491 shares of the Wireless communications provider’s stock valued at $3,121,000 after acquiring an additional 17,798 shares during the period. BlackRock Inc. grew its stake in PC Tel by 9.0% in the 2nd quarter. BlackRock Inc. now owns 571,753 shares of the Wireless communications provider’s stock valued at $2,533,000 after acquiring an additional 47,033 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in PC Tel by 28.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 356,025 shares of the Wireless communications provider’s stock valued at $1,578,000 after acquiring an additional 78,026 shares during the period. 62.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: What is the definition of a trade war?

Get a free copy of the Zacks research report on PC Tel (PCTI)

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.