AWM Investment Company Inc. reduced its position in PC-Tel, Inc. (NASDAQ:PCTI) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,899 shares of the Wireless communications provider’s stock after selling 1,100 shares during the period. AWM Investment Company Inc. owned approximately 1.76% of PC-Tel worth $2,036,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of PCTI. Prudential Financial Inc. increased its position in PC-Tel by 0.8% in the first quarter. Prudential Financial Inc. now owns 52,800 shares of the Wireless communications provider’s stock worth $376,000 after buying an additional 400 shares in the last quarter. Geode Capital Management LLC increased its position in PC-Tel by 0.5% in the first quarter. Geode Capital Management LLC now owns 90,628 shares of the Wireless communications provider’s stock worth $645,000 after buying an additional 444 shares in the last quarter. Perritt Capital Management Inc. increased its position in PC-Tel by 0.7% in the fourth quarter. Perritt Capital Management Inc. now owns 632,000 shares of the Wireless communications provider’s stock worth $3,400,000 after buying an additional 4,500 shares in the last quarter. Acadian Asset Management LLC acquired a new position in PC-Tel during the first quarter worth about $121,000. Finally, Vanguard Group Inc. increased its position in PC-Tel by 3.1% in the first quarter. Vanguard Group Inc. now owns 699,656 shares of the Wireless communications provider’s stock worth $4,981,000 after buying an additional 21,344 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.
PC-Tel, Inc. (PCTI) traded up 1.15% during midday trading on Tuesday, reaching $7.03. 37,864 shares of the company were exchanged. The company’s market capitalization is $115.83 million. The firm has a 50-day moving average price of $6.87 and a 200-day moving average price of $6.14. PC-Tel, Inc. has a 52 week low of $4.46 and a 52 week high of $8.48.
PC-Tel (NASDAQ:PCTI) last posted its quarterly earnings results on Tuesday, May 9th. The Wireless communications provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. PC-Tel had a negative net margin of 16.11% and a positive return on equity of 1.99%. The company had revenue of $25 million during the quarter, compared to analysts’ expectations of $24.23 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The firm’s revenue was up 18.7% on a year-over-year basis. Equities research analysts anticipate that PC-Tel, Inc. will post $0.22 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on PCTI shares. Zacks Investment Research upgraded shares of PC-Tel from a “hold” rating to a “strong-buy” rating and set a $6.75 price objective on the stock in a research note on Tuesday, March 14th. Wunderlich downgraded shares of PC-Tel from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research note on Wednesday, May 10th. Lake Street Capital started coverage on shares of PC-Tel in a research note on Wednesday, April 12th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, B. Riley reissued a “buy” rating and set a $9.00 target price on shares of PC-Tel in a research report on Saturday, May 13th.
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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