PC Tel (NASDAQ:PCTI) was downgraded by research analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, The Fly reports.
PCTI has been the subject of a number of other reports. TheStreet cut shares of PC Tel from a “b” rating to a “c+” rating in a report on Monday, July 9th. Zacks Investment Research upgraded shares of PC Tel from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Tuesday, April 17th. B. Riley upgraded shares of PC Tel from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $8.50 to $4.50 in a report on Thursday. Finally, ValuEngine cut shares of PC Tel from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.38.
Shares of NASDAQ:PCTI opened at $5.67 on Thursday. The firm has a market capitalization of $109.55 million, a P/E ratio of 56.70 and a beta of 0.51. PC Tel has a 1 year low of $5.11 and a 1 year high of $7.85.
PC Tel (NASDAQ:PCTI) last issued its quarterly earnings data on Wednesday, May 9th. The Wireless communications provider reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $21.73 million during the quarter, compared to analysts’ expectations of $21.70 million. PC Tel had a net margin of 3.32% and a return on equity of 1.44%. During the same period in the prior year, the company posted $0.05 earnings per share. analysts anticipate that PC Tel will post 0.2 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of PCTI. Bank of New York Mellon Corp lifted its position in PC Tel by 403.0% during the 4th quarter. Bank of New York Mellon Corp now owns 103,494 shares of the Wireless communications provider’s stock worth $764,000 after acquiring an additional 82,917 shares during the last quarter. Raymond James & Associates acquired a new position in PC Tel during the 4th quarter worth $510,000. Millennium Management LLC acquired a new position in PC Tel during the 4th quarter worth $118,000. Russell Investments Group Ltd. lifted its position in PC Tel by 51.9% during the 1st quarter. Russell Investments Group Ltd. now owns 152,560 shares of the Wireless communications provider’s stock worth $1,095,000 after acquiring an additional 52,137 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in PC Tel by 8.9% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 588,783 shares of the Wireless communications provider’s stock worth $3,674,000 after acquiring an additional 47,943 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.
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 operates in two segments, Connected Solutions and RF Solutions. The Connected Solutions segment designs and delivers 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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