PCTEL (NASDAQ:PCTI) Earns Buy Rating from Analysts at StockNews.com

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

PCTEL Stock Down 2.6 %

NASDAQ PCTI opened at $4.94 on Friday. The company has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $4.51. PCTEL has a 12-month low of $3.90 and a 12-month high of $6.44. The firm has a market cap of $92.28 million, a price-to-earnings ratio of -493.51 and a beta of 0.36.

Hedge Funds Weigh In On PCTEL

Several hedge funds and other institutional investors have recently modified their holdings of PCTI. First Eagle Investment Management LLC raised its stake in shares of PCTEL by 116.3% during the first quarter. First Eagle Investment Management LLC now owns 141,888 shares of the Wireless communications provider’s stock valued at $658,000 after acquiring an additional 76,280 shares during the last quarter. Royce & Associates LP raised its stake in shares of PCTEL by 4.8% during the first quarter. Royce & Associates LP now owns 1,626,067 shares of the Wireless communications provider’s stock valued at $7,545,000 after acquiring an additional 74,132 shares during the last quarter. Rutabaga Capital Management LLC MA raised its stake in shares of PCTEL by 2.4% during the second quarter. Rutabaga Capital Management LLC MA now owns 1,159,167 shares of the Wireless communications provider’s stock valued at $4,741,000 after acquiring an additional 26,850 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of PCTEL by 3.7% during the first quarter. Acadian Asset Management LLC now owns 505,915 shares of the Wireless communications provider’s stock valued at $2,345,000 after acquiring an additional 17,916 shares during the last quarter. Finally, Moors & Cabot Inc. raised its stake in PCTEL by 54.3% in the first quarter. Moors & Cabot Inc. now owns 38,500 shares of the Wireless communications provider’s stock worth $179,000 after buying an additional 13,553 shares in the last quarter. 51.05% of the stock is owned by institutional investors.

About PCTEL

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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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