PCTEL (NASDAQ:PCTI) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of PCTEL (NASDAQ:PCTI) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

PCTEL Price Performance

Shares of NASDAQ PCTI opened at $4.10 on Friday. PCTEL has a 12-month low of $3.78 and a 12-month high of $5.24. The company has a market capitalization of $78.97 million, a PE ratio of 12.06 and a beta of 0.43. The firm’s 50-day moving average is $4.60 and its two-hundred day moving average is $4.61.

PCTEL (NASDAQ:PCTI) last announced its quarterly earnings results on Tuesday, August 8th. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter. PCTEL had a net margin of 6.65% and a return on equity of 10.60%. The company had revenue of $20.58 million for the quarter.

PCTEL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 5.37%. The ex-dividend date was Monday, August 7th. PCTEL’s dividend payout ratio (DPR) is presently 64.71%.

Institutional Trading of PCTEL

Several institutional investors and hedge funds have recently modified their holdings of the business. James Investment Research Inc. purchased a new position in shares of PCTEL during the first quarter valued at approximately $37,000. Bank of America Corp DE lifted its stake in shares of PCTEL by 60,315.0% during the first quarter. Bank of America Corp DE now owns 12,083 shares of the Wireless communications provider’s stock valued at $51,000 after buying an additional 12,063 shares during the period. Quadrature Capital Ltd purchased a new position in shares of PCTEL during the second quarter valued at approximately $51,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of PCTEL during the fourth quarter valued at approximately $63,000. Finally, Susquehanna International Group LLP purchased a new position in shares of PCTEL during the first quarter valued at approximately $64,000. Hedge funds and other institutional investors own 45.39% of the company’s stock.

About PCTEL

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.