Westell Technologies (NASDAQ:WSTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $3.50 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.76% from the stock’s current price.
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. “
A number of other research analysts have also recently weighed in on WSTL. ValuEngine raised shares of Westell Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. TheStreet raised shares of Westell Technologies from a “d+” rating to a “c-” rating in a report on Friday, December 15th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSTL. Alambic Investment Management L.P. purchased a new position in Westell Technologies in the fourth quarter valued at $112,000. Virtu Financial LLC purchased a new position in Westell Technologies in the fourth quarter valued at $122,000. Essex Investment Management Co. LLC increased its holdings in Westell Technologies by 160.1% in the third quarter. Essex Investment Management Co. LLC now owns 130,162 shares of the communications equipment provider’s stock valued at $387,000 after buying an additional 80,120 shares in the last quarter. Algert Global LLC purchased a new position in Westell Technologies in the fourth quarter valued at $1,024,000. Finally, Royce & Associates LP increased its holdings in Westell Technologies by 107.5% in the third quarter. Royce & Associates LP now owns 552,938 shares of the communications equipment provider’s stock valued at $1,642,000 after buying an additional 286,405 shares in the last quarter. 29.61% of the stock is owned by institutional investors.
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Westell Technologies Company Profile
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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