PC Tel (NASDAQ:PCTI) Receives Buy Rating from B. Riley
B. Riley reissued their buy rating on shares of PC Tel (NASDAQ:PCTI) in a report published on Friday, Stock Target Advisor reports. The firm currently has a $10.25 price target on the Wireless communications provider’s stock. B. Riley also issued estimates for PC Tel’s Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at $0.07 EPS and Q4 2020 earnings at $0.08 EPS.
A number of other equities research analysts have also commented on PCTI. TheStreet lowered shares of PC Tel from a b- rating to a c+ rating in a report on Monday, January 6th. Zacks Investment Research lowered shares of PC Tel from a buy rating to a hold rating in a report on Thursday, January 9th. ValuEngine lowered shares of PC Tel from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Lake Street Capital upped their price target on shares of PC Tel from $6.00 to $8.00 and gave the company a buy rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $9.42.
NASDAQ:PCTI opened at $8.93 on Friday. The company has a fifty day moving average of $8.69 and a 200 day moving average of $7.45. PC Tel has a 52 week low of $4.36 and a 52 week high of $9.40. The firm has a market capitalization of $166.13 million, a P/E ratio of -20.77 and a beta of -0.11.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, February 7th will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.22 dividend on an annualized basis and a yield of 2.46%. PC Tel’s dividend payout ratio is currently -95.65%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in PC Tel by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 704,491 shares of the Wireless communications provider’s stock worth $3,121,000 after purchasing an additional 17,798 shares in the last quarter. BlackRock Inc. raised its holdings in PC Tel by 9.0% in the 2nd quarter. BlackRock Inc. now owns 571,753 shares of the Wireless communications provider’s stock worth $2,533,000 after purchasing an additional 47,033 shares in the last quarter. Cadence Capital Management LLC bought a new position in PC Tel in the 3rd quarter worth $1,985,000. Assenagon Asset Management S.A. raised its holdings in PC Tel by 13.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 98,889 shares of the Wireless communications provider’s stock worth $831,000 after purchasing an additional 11,489 shares in the last quarter. Finally, Millennium Management LLC bought a new position in PC Tel in the 3rd quarter worth $624,000. Institutional investors and hedge funds own 56.85% of the company’s stock.
PC Tel Company Profile
PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.
See Also: Why does a company issue an IPO?
Receive News & Ratings for PC Tel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Tel and related companies with MarketBeat.com's FREE daily email newsletter.