PC Tel (NASDAQ:PCTI) Downgraded by Zacks Investment Research to “Hold”

PC Tel (NASDAQ:PCTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

Several other research analysts have also issued reports on PCTI. TheStreet raised PC Tel from a “c” rating to a “b-” rating in a research report on Monday, September 9th. B. Riley raised PC Tel from a “neutral” rating to a “buy” rating and upped their target price for the company from $5.00 to $6.50 in a research report on Friday, August 9th. ValuEngine lowered PC Tel from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Lake Street Capital upped their target price on PC Tel from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $6.92.

Shares of PCTI stock opened at $8.19 on Friday. The stock has a market capitalization of $132.00 million, a price-to-earnings ratio of -35.61 and a beta of -0.17. PC Tel has a twelve month low of $3.88 and a twelve month high of $8.83. The stock has a fifty day simple moving average of $7.77 and a two-hundred day simple moving average of $5.94.

PC Tel (NASDAQ:PCTI) last announced its earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. PC Tel had a negative return on equity of 0.48% and a negative net margin of 12.16%. The company had revenue of $23.50 million for the quarter, compared to analyst estimates of $22.40 million. Analysts forecast that PC Tel will post 0.16 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in PCTI. Bailard Inc. acquired a new position in PC Tel during the 2nd quarter valued at about $149,000. Hillsdale Investment Management Inc. purchased a new position in PC Tel during the second quarter worth approximately $414,000. JPMorgan Chase & Co. boosted its position 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 worth $123,000 after purchasing an additional 16,600 shares in the last quarter. Acadian Asset Management LLC boosted its position in PC Tel by 79.4% during the second quarter. Acadian Asset Management LLC now owns 52,333 shares of the Wireless communications provider’s stock worth $232,000 after purchasing an additional 23,154 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of PC Tel by 28.1% in the second 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 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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