Shares of PC Tel Inc (NASDAQ:PCTI) have been given an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus price target of $5.00 for the company and are anticipating that the company will post $0.07 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PC Tel an industry rank of 168 out of 256 based on the ratings given to related companies.
PCTI has been the subject of several research reports. B. Riley raised shares of PC Tel from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.00 to $6.50 in a research note on Friday. Zacks Investment Research downgraded shares of PC Tel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Lake Street Capital raised shares of PC Tel from a “hold” rating to a “buy” rating and increased their price objective for the company from $5.00 to $6.00 in a research note on Friday. Finally, ValuEngine downgraded shares of PC Tel from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Wednesday, August 7th. PC Tel’s payout ratio is currently -73.91%.
Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in shares of PC Tel during the fourth quarter valued at $111,000. JPMorgan Chase & Co. raised its stake in shares of PC Tel by 152.3% during the second quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock valued at $123,000 after acquiring an additional 16,600 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of PC Tel during the first quarter valued at $145,000. Bailard Inc. bought a new position in shares of PC Tel during the second quarter valued at $149,000. Finally, Acadian Asset Management LLC raised its stake in shares of PC Tel by 79.4% during the second quarter. Acadian Asset Management LLC now owns 52,333 shares of the Wireless communications provider’s stock valued at $232,000 after acquiring an additional 23,154 shares during the last quarter. 63.06% of the stock is owned by hedge funds and other institutional investors.
About PC Tel
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.
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