Westell Technologies, Inc. (WSTL) Downgraded by Zacks Investment Research
Westell Technologies, Inc. (NASDAQ:WSTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “
Separately, Northland Securities set a $6.00 target price on Westell Technologies and gave the company a “buy” rating in a report on Friday, August 11th.
Westell Technologies (NASDAQ:WSTL) last announced its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Westell Technologies had a negative net margin of 13.51% and a negative return on equity of 1.07%. The firm had revenue of $16.57 million for the quarter, compared to analysts’ expectations of $15.36 million. During the same quarter last year, the business earned ($0.06) earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year.
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A hedge fund recently raised its stake in Westell Technologies stock. Renaissance Technologies LLC boosted its position in shares of Westell Technologies, Inc. (NASDAQ:WSTL) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,773,429 shares of the communications equipment provider’s stock after acquiring an additional 100,900 shares during the quarter. Renaissance Technologies LLC owned 6.13% of Westell Technologies worth $2,641,000 at the end of the most recent quarter. 27.18% of the stock is currently owned by institutional investors.
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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