Westell Technologies, Inc. (WSTL) Given a $6.00 Price Target at Northland Securities
Westell Technologies, Inc. (NASDAQ:WSTL) received a $6.00 price objective from research analysts at Northland Securities in a report issued on Friday. The firm currently has a “buy” rating on the communications equipment provider’s stock. Northland Securities’ price target suggests a potential upside of 98.68% from the stock’s current price.
Several other analysts also recently issued reports on the company. ValuEngine upgraded Westell Technologies from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research downgraded Westell Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th.
Shares of Westell Technologies (NASDAQ:WSTL) traded down 1.31% during mid-day trading on Friday, reaching $3.02. The company’s stock had a trading volume of 31,345 shares. Westell Technologies has a 52-week low of $1.76 and a 52-week high of $3.80. The company’s market capitalization is $46.75 million. The firm’s 50 day moving average is $3.20 and its 200-day moving average is $2.87.
Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. The company had revenue of $16.57 million for the quarter, compared to the consensus estimate of $15.36 million. Westell Technologies had a negative return on equity of 1.06% and a negative net margin of 13.51%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) EPS. Analysts forecast that Westell Technologies will post $0.04 EPS for the current year.
Westell Technologies declared that its board has authorized a stock repurchase program on Wednesday, May 17th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the communications equipment provider to reacquire up to 59% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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A hedge fund recently raised its stake in Westell Technologies stock. Renaissance Technologies LLC boosted its stake in shares of Westell Technologies, Inc. (NASDAQ:WSTL) by 1.9% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,672,529 shares of the communications equipment provider’s stock after buying an additional 70,000 shares during the period. Renaissance Technologies LLC owned approximately 5.97% of Westell Technologies worth $2,387,000 at the end of the most recent quarter.
About Westell Technologies
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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