Initiates Coverage on PCTEL (NASDAQ:PCTI) began coverage on shares of PCTEL (NASDAQ:PCTIGet Rating) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating on the Wireless communications provider’s stock.

Shares of NASDAQ PCTI opened at $4.25 on Wednesday. The firm has a 50-day simple moving average of $4.62 and a 200-day simple moving average of $5.23. The stock has a market capitalization of $78.43 million, a price-to-earnings ratio of 425.43 and a beta of 0.35. PCTEL has a 52 week low of $4.22 and a 52 week high of $7.15.

PCTEL (NASDAQ:PCTIGet Rating) last released its quarterly earnings data on Thursday, February 24th. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter. PCTEL had a net margin of 0.17% and a return on equity of 2.92%. The firm had revenue of $26.01 million during the quarter.

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in PCTEL during the fourth quarter worth about $61,000. Campbell & CO Investment Adviser LLC acquired a new stake in PCTEL during the fourth quarter worth about $62,000. Moors & Cabot Inc. acquired a new stake in PCTEL during the third quarter worth about $156,000. Morgan Stanley increased its position in shares of PCTEL by 43.7% during the third quarter. Morgan Stanley now owns 25,619 shares of the Wireless communications provider’s stock valued at $159,000 after acquiring an additional 7,789 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of PCTEL during the fourth quarter valued at about $232,000. Hedge funds and other institutional investors own 54.67% of the company’s stock.

About PCTEL (Get Rating)

PCTEL, Inc, together with its subsidiaries, provides industrial Internet of Thing devices (IoT), antenna systems, and test and measurement solutions worldwide. The company designs and manufactures precision antennas and industrial IoT devices that are deployed in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the industrial IoT.

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