PC-Tel, Inc. (NASDAQ:PCTI) announced a quarterly dividend on Monday, June 26th, RTT News reports. Stockholders of record on Tuesday, August 8th will be given a dividend of 0.055 per share by the Wireless communications provider on Tuesday, August 15th. This represents a $0.22 annualized dividend and a dividend yield of 3.17%. This is a positive change from PC-Tel’s previous quarterly dividend of $0.05.

Shares of PC-Tel (NASDAQ PCTI) traded down 2.93% during midday trading on Monday, hitting $6.95. The company had a trading volume of 44,681 shares. PC-Tel has a 12 month low of $4.46 and a 12 month high of $8.48. The company’s market capitalization is $114.51 million. The company has a 50-day moving average of $6.84 and a 200-day moving average of $6.16.

PC-Tel (NASDAQ:PCTI) last posted its quarterly earnings results on Tuesday, May 9th. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. PC-Tel had a negative net margin of 16.11% and a positive return on equity of 1.99%. The company had revenue of $25 million during the quarter, compared to the consensus estimate of $24.23 million. During the same period last year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Analysts predict that PC-Tel will post $0.22 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of PC-Tel by 104.4% in the first quarter. Goldman Sachs Group Inc. now owns 69,441 shares of the Wireless communications provider’s stock valued at $494,000 after buying an additional 35,476 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PC-Tel by 0.5% in the first quarter. Geode Capital Management LLC now owns 90,628 shares of the Wireless communications provider’s stock valued at $645,000 after buying an additional 444 shares in the last quarter. Morgan Stanley increased its position in shares of PC-Tel by 28.4% in the first quarter. Morgan Stanley now owns 166,885 shares of the Wireless communications provider’s stock valued at $1,188,000 after buying an additional 36,919 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of PC-Tel by 3.1% in the first quarter. Vanguard Group Inc. now owns 699,656 shares of the Wireless communications provider’s stock valued at $4,981,000 after buying an additional 21,344 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

A number of research firms have recently issued reports on PCTI. Wunderlich downgraded shares of PC-Tel from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a research report on Wednesday, May 10th. Zacks Investment Research downgraded shares of PC-Tel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. B. Riley reiterated a “buy” rating and set a $9.00 price target on shares of PC-Tel in a research report on Monday, May 8th. Finally, Lake Street Capital began coverage on shares of PC-Tel in a research report on Wednesday, April 12th. They set a “buy” rating and a $8.00 price target for the company.

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About PC-Tel

PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.

Dividend History for PC-Tel (NASDAQ:PCTI)

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