PC Tel (NASDAQ:PCTI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The brokerage currently has a $5.25 price target on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 18.78% from the stock’s current price.

According to Zacks, “PCTEL designs, develops, and delivers wireless solutions. PCTEL’s products include wireless local area network software products that simplify installation, roaming, Internet access and billing. Its subsidiary, DTI, designs, develops and distributes software-defined receivers and receiver-based products that measure, monitor and optimize the performance of cellular and Wi-Fi networks. . MAXRAD designs, develops, manufactures, and distributes innovative antenna solutions that facilitate and simplify wireless communications. “

PCTI has been the subject of a number of other reports. ValuEngine cut shares of PC Tel from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Lake Street Capital cut shares of PC Tel from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $9.00 to $6.00 in a research note on Thursday, August 9th. Finally, B. Riley raised shares of PC Tel from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $8.50 to $4.50 in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $5.25.

PCTI stock opened at $4.42 on Friday. PC Tel has a 12-month low of $4.01 and a 12-month high of $7.85. The company has a market cap of $86.08 million, a PE ratio of 44.20 and a beta of 0.22.

PC Tel (NASDAQ:PCTI) last issued its quarterly earnings data on Thursday, November 8th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). PC Tel had a negative net margin of 0.59% and a negative return on equity of 1.57%. The business had revenue of $18.43 million during the quarter, compared to analysts’ expectations of $19.50 million. Sell-side analysts anticipate that PC Tel will post -0.3 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. grew its stake in PC Tel by 22.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 54,615 shares of the Wireless communications provider’s stock worth $341,000 after acquiring an additional 10,166 shares during the period. Rutabaga Capital Management LLC MA purchased a new stake in PC Tel in the 3rd quarter worth approximately $608,000. Ancora Advisors LLC grew its stake in PC Tel by 462.8% in the 3rd quarter. Ancora Advisors LLC now owns 155,651 shares of the Wireless communications provider’s stock worth $724,000 after acquiring an additional 127,995 shares during the period. Russell Investments Group Ltd. grew its stake in PC Tel by 67.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 255,252 shares of the Wireless communications provider’s stock worth $1,593,000 after acquiring an additional 102,692 shares during the period. Finally, Royce & Associates LP grew its stake in PC Tel by 10.5% in the 2nd quarter. Royce & Associates LP now owns 268,838 shares of the Wireless communications provider’s stock worth $1,678,000 after acquiring an additional 25,569 shares during the period. 80.55% of the stock is owned by hedge funds and other institutional investors.

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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