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 note issued to investors 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 research 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $16.57 million during the quarter, compared to analyst estimates of $15.36 million. Westell Technologies had a negative net margin of 13.51% and a negative return on equity of 1.07%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share.
A hedge fund recently bought a new stake in Westell Technologies stock. Essex Investment Management Co. LLC acquired a new position in shares of Westell Technologies, Inc. (NASDAQ:WSTL) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 50,042 shares of the communications equipment provider’s stock, valued at approximately $157,000. Essex Investment Management Co. LLC owned 0.32% of Westell Technologies at the end of the most recent quarter. 27.18% of the stock is owned by institutional investors and hedge funds.
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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