Zacks Investment Research Upgrades ParkerVision, Inc. (PRKR) to “Hold”
ParkerVision, Inc. (NASDAQ:PRKR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “ParkerVision, Inc. operates two segments – the Video Products Division and the Wireless Technology Division. The Video Division is engaged in the design, development and marketing of automated video camera control systems, marketed under the tradename CameraMan and automated production systems, marketed under the tradename PVTV Studio. The Wireless Division is engaged in the development and initial commercialization of its Direct2Data, or D2D, technology. “
Separately, Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $12.00 price objective on shares of ParkerVision in a report on Tuesday, June 13th.
Shares of ParkerVision (NASDAQ:PRKR) traded up 0.789% during midday trading on Wednesday, hitting $1.915. The stock had a trading volume of 47,595 shares. ParkerVision has a 1-year low of $1.60 and a 1-year high of $5.06. The stock’s market cap is $34.05 million. The firm’s 50-day moving average price is $1.87 and its 200-day moving average price is $2.03.
ParkerVision (NASDAQ:PRKR) last released its quarterly earnings data on Thursday, August 17th. The semiconductor company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.03. During the same period in the previous year, the company posted ($0.72) earnings per share. Analysts forecast that ParkerVision will post ($0.85) earnings per share for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in PRKR. Ingalls & Snyder LLC purchased a new position in shares of ParkerVision in the first quarter worth about $199,000. Vanguard Group Inc. increased its holdings in shares of ParkerVision by 23.0% in the second quarter. Vanguard Group Inc. now owns 574,253 shares of the semiconductor company’s stock worth $1,028,000 after buying an additional 107,500 shares during the period. Finally, Alden Global Capital LLC increased its holdings in ParkerVision by 84.4% during the 1st quarter. Alden Global Capital LLC now owns 1,092,633 shares of the semiconductor company’s stock valued at $2,174,000 after purchasing an additional 500,000 shares during the period. Hedge funds and other institutional investors own 12.96% of the company’s stock.
ParkerVision Company Profile
ParkerVision, Inc is engaged in the designing, developing and marketing of its radio frequency (RF) technologies and products. The Company’s business is focused on the development and marketing of its RF technologies for mobile and other wireless applications. Its products include a modulator/demodulator component that incorporates its technologies, as well as a small number of supporting components that are used in the assembly of wireless devices.
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