PC-Tel, Inc. (NASDAQ:PCTI)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research note issued to investors on Thursday. They currently have a $8.50 target price on the Wireless communications provider’s stock. B. Riley’s price objective would suggest a potential upside of 21.26% from the stock’s previous close. B. Riley also issued estimates for PC-Tel’s FY2019 earnings at $0.21 EPS.

PC-Tel (NASDAQ:PCTI) traded up $0.28 during trading on Thursday, reaching $7.06. The company’s stock had a trading volume of 87,719 shares, compared to its average volume of 33,831. PC-Tel has a 1 year low of $4.86 and a 1 year high of $8.48. The company has a market capitalization of $118.43, a PE ratio of 83.50 and a beta of 0.62.

PC-Tel (NASDAQ:PCTI) last released its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. PC-Tel had a negative net margin of 5.61% and a positive return on equity of 1.60%. The company had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.11 million. During the same period in the previous year, the firm earned $0.07 EPS. PC-Tel’s revenue was up 13.4% on a year-over-year basis. sell-side analysts forecast that PC-Tel will post 0.08 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. grew its stake in shares of PC-Tel by 0.8% in the 1st quarter. Prudential Financial Inc. now owns 52,800 shares of the Wireless communications provider’s stock worth $376,000 after purchasing an additional 400 shares during the last quarter. Northern Trust Corp grew its stake in shares of PC-Tel by 2.6% in the 2nd quarter. Northern Trust Corp now owns 411,946 shares of the Wireless communications provider’s stock worth $2,916,000 after purchasing an additional 10,333 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in shares of PC-Tel in the 2nd quarter worth approximately $102,000. Susquehanna International Group LLP acquired a new position in shares of PC-Tel in the 2nd quarter worth approximately $114,000. Finally, JPMorgan Chase & Co. grew its stake in shares of PC-Tel by 1,048.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,347 shares of the Wireless communications provider’s stock worth $137,000 after purchasing an additional 17,662 shares during the last quarter. 71.36% of the stock is currently owned by institutional investors.

About PC-Tel

PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.

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