PCTEL (NASDAQ:PCTI) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of PCTEL (NASDAQ:PCTI – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the Wireless communications provider’s stock.

NASDAQ PCTI opened at $4.34 on Thursday. The stock has a market capitalization of $80.09 million, a price-to-earnings ratio of 434.43 and a beta of 0.39. PCTEL has a twelve month low of $4.16 and a twelve month high of $7.15. The stock has a 50-day moving average of $4.53 and a 200 day moving average of $5.17.

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

Institutional investors have recently made changes to their positions in the business. Royce & Associates LP raised its holdings in shares of PCTEL by 5.0% during the fourth quarter. Royce & Associates LP now owns 1,551,935 shares of the Wireless communications provider’s stock valued at $8,799,000 after acquiring an additional 74,281 shares during the last quarter. Rutabaga Capital Management LLC MA raised its holdings in shares of PCTEL by 10.7% during the fourth quarter. Rutabaga Capital Management LLC MA now owns 1,132,317 shares of the Wireless communications provider’s stock valued at $6,420,000 after acquiring an additional 109,666 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of PCTEL by 41.8% during the third quarter. Franklin Resources Inc. now owns 249,169 shares of the Wireless communications provider’s stock valued at $1,550,000 after acquiring an additional 73,502 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of PCTEL by 1.8% during the third quarter. Russell Investments Group Ltd. now owns 269,470 shares of the Wireless communications provider’s stock valued at $1,674,000 after acquiring an additional 4,792 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of PCTEL in the third quarter valued at approximately $156,000. 51.92% of the stock is owned by institutional investors and hedge funds.

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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