Zacks Investment Research upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $4.00 target price on the communications equipment provider’s stock.

According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “

Separately, Northland Securities set a $6.00 price target on shares of Westell Technologies and gave the stock a buy rating in a research note on Friday, August 11th.

Westell Technologies (NASDAQ WSTL) traded up $0.02 during trading on Wednesday, hitting $3.45. 20,800 shares of the company’s stock traded hands, compared to its average volume of 40,731. Westell Technologies has a 1 year low of $1.76 and a 1 year high of $3.80. The company has a market cap of $53.43, a PE ratio of 21.56 and a beta of 1.62.

Westell Technologies (NASDAQ:WSTL) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.09. Westell Technologies had a negative net margin of 3.45% and a positive return on equity of 4.84%. The company had revenue of $17.23 million during the quarter, compared to analyst estimates of $16.74 million. During the same quarter last year, the business posted ($0.02) EPS. Westell Technologies’s quarterly revenue was down 3.1% compared to the same quarter last year. research analysts anticipate that Westell Technologies will post 0.23 earnings per share for the current fiscal year.

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A hedge fund recently raised its stake in Westell Technologies stock. Essex Investment Management Co. LLC boosted its holdings in Westell Technologies, Inc. (NASDAQ:WSTL) by 160.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,162 shares of the communications equipment provider’s stock after buying an additional 80,120 shares during the period. Essex Investment Management Co. LLC owned approximately 0.85% of Westell Technologies worth $387,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 27.68% of the company’s stock.

About Westell Technologies

Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).

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