StockNews.com Begins Coverage on PCTEL (NASDAQ:PCTI)

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

PCTI opened at $4.02 on Friday. PCTEL has a 12-month low of $3.96 and a 12-month high of $7.15. The stock has a 50-day moving average price of $4.39 and a 200-day moving average price of $5.04. The stock has a market capitalization of $74.60 million, a P/E ratio of -100.47 and a beta of 0.39.

PCTEL (NASDAQ:PCTI – Get Rating) last announced its earnings results on Tuesday, May 10th. The Wireless communications provider reported ($0.03) earnings per share (EPS) for the quarter. PCTEL had a positive return on equity of 3.26% and a negative net margin of 0.81%. The firm had revenue of $22.54 million during the quarter.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of PCTEL by 0.6% in the fourth quarter. BlackRock Inc. now owns 431,328 shares of the Wireless communications provider’s stock worth $2,445,000 after acquiring an additional 2,409 shares during the period. State Street Corp boosted its position in PCTEL by 3.9% in the 1st quarter. State Street Corp now owns 74,607 shares of the Wireless communications provider’s stock valued at $346,000 after buying an additional 2,815 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of PCTEL by 1.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 269,470 shares of the Wireless communications provider’s stock valued at $1,674,000 after purchasing an additional 4,792 shares in the last quarter. Morgan Stanley raised its stake in PCTEL by 43.7% during the 3rd quarter. Morgan Stanley now owns 25,619 shares of the Wireless communications provider’s stock worth $159,000 after acquiring an additional 7,789 shares in the last quarter. Finally, Norges Bank acquired a new stake in PCTEL during the 4th quarter worth $61,000. 51.92% of the stock is owned by hedge funds and other institutional investors.

PCTEL Company Profile (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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