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

StockNews.com assumed coverage on shares of PCTEL (NASDAQ:PCTIGet Rating) in a research note issued on Sunday. The brokerage set a “buy” rating on the Wireless communications provider’s stock.

Shares of NASDAQ:PCTI opened at $4.19 on Friday. The company has a market capitalization of $77.75 million, a price-to-earnings ratio of -104.72 and a beta of 0.39. PCTEL has a 52 week low of $3.96 and a 52 week high of $7.15. The firm has a 50 day moving average of $4.34 and a 200 day moving average of $4.97.

PCTEL (NASDAQ:PCTIGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The Wireless communications provider reported ($0.03) EPS for the quarter. PCTEL had a positive return on equity of 3.26% and a negative net margin of 0.81%. The business had revenue of $22.54 million during the quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCTI. Franklin Resources Inc. grew its holdings in PCTEL by 41.8% in the third quarter. Franklin Resources Inc. now owns 249,169 shares of the Wireless communications provider’s stock worth $1,550,000 after purchasing an additional 73,502 shares during the last quarter. Morgan Stanley grew its holdings 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 buying an additional 7,789 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of PCTEL during the third quarter valued at $156,000. Rutabaga Capital Management LLC MA grew 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 buying an additional 109,666 shares during the last quarter. Finally, Royce & Associates LP grew 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 buying an additional 74,281 shares during the last quarter. 51.92% of the stock is currently 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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