PC-Tel, Inc. (NASDAQ:PCTI)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a note issued to investors on Thursday. They currently have a $8.50 target price on the Wireless communications provider’s stock. B. Riley’s target price would indicate a potential upside of 19.21% from the stock’s current price. B. Riley also issued estimates for PC-Tel’s FY2019 earnings at $0.21 EPS.

PC-Tel (NASDAQ:PCTI) opened at $7.13 on Thursday. PC-Tel has a 1-year low of $4.86 and a 1-year high of $8.48. The stock has a market cap of $124.98, a price-to-earnings ratio of 64.09 and a beta of 0.62.

PC-Tel (NASDAQ:PCTI) last announced its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. PC-Tel had a negative net margin of 4.86% and a positive return on equity of 2.14%. The company had revenue of $23.70 million during the quarter, compared to the consensus estimate of $23.11 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. research analysts anticipate that PC-Tel will post 0.08 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chartwell Investment Partners LLC raised its stake in shares of PC-Tel by 12.0% during the third quarter. Chartwell Investment Partners LLC now owns 1,719,342 shares of the Wireless communications provider’s stock valued at $10,831,000 after purchasing an additional 184,135 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of PC-Tel by 9.3% during the first quarter. Renaissance Technologies LLC now owns 1,367,099 shares of the Wireless communications provider’s stock valued at $9,734,000 after purchasing an additional 115,800 shares in the last quarter. Northern Trust Corp raised its stake in shares of PC-Tel by 2.6% during the second quarter. Northern Trust Corp now owns 411,946 shares of the Wireless communications provider’s stock valued at $2,916,000 after purchasing an additional 10,333 shares in the last quarter. Algert Global LLC raised its stake in shares of PC-Tel by 364.0% during the second quarter. Algert Global LLC now owns 278,435 shares of the Wireless communications provider’s stock valued at $1,971,000 after purchasing an additional 218,425 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of PC-Tel by 507.8% during the second quarter. Royce & Associates LP now owns 207,269 shares of the Wireless communications provider’s stock valued at $1,467,000 after purchasing an additional 173,169 shares in the last quarter. Institutional investors and hedge funds own 71.36% of the company’s stock.

PC-Tel Company Profile

PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.

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