Zacks Investment Research upgraded shares of PC Tel (NASDAQ:PCTI) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “PCTEL designs, develops, and delivers wireless solutions. PCTEL’s products include wireless local area network software products that simplify installation, roaming, Internet access and billing. Its subsidiary, DTI, designs, develops and distributes software-defined receivers and receiver-based products that measure, monitor and optimize the performance of cellular and Wi-Fi networks. . MAXRAD designs, develops, manufactures, and distributes innovative antenna solutions that facilitate and simplify wireless communications. “

Several other research firms have also weighed in on PCTI. ValuEngine lowered shares of PC Tel from a hold rating to a sell rating in a research note on Tuesday, July 10th. B. Riley upgraded shares of PC Tel from a neutral rating to a buy rating and lowered their target price for the company from $8.50 to $4.50 in a research note on Thursday, August 9th. Lake Street Capital lowered shares of PC Tel from a buy rating to a hold rating and lowered their target price for the company from $9.00 to $6.00 in a research note on Thursday, August 9th. Finally, TheStreet lowered shares of PC Tel from a b rating to a c+ rating in a research note on Monday, July 9th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.25.

PCTI stock traded up $0.20 during trading on Wednesday, hitting $4.66. 215,135 shares of the company’s stock traded hands, compared to its average volume of 39,233. PC Tel has a 52 week low of $4.01 and a 52 week high of $7.85. The firm has a market cap of $85.16 million, a price-to-earnings ratio of 46.60 and a beta of 0.20.

Several institutional investors and hedge funds have recently made changes to their positions in PCTI. Russell Investments Group Ltd. boosted its holdings in shares of PC Tel by 67.3% during the second quarter. Russell Investments Group Ltd. now owns 255,252 shares of the Wireless communications provider’s stock valued at $1,593,000 after acquiring an additional 102,692 shares during the period. Ariel Investments LLC boosted its holdings in shares of PC Tel by 3.1% during the second quarter. Ariel Investments LLC now owns 2,320,817 shares of the Wireless communications provider’s stock valued at $14,482,000 after acquiring an additional 69,567 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in shares of PC Tel by 8.9% during the second quarter. Deprince Race & Zollo Inc. now owns 588,783 shares of the Wireless communications provider’s stock valued at $3,674,000 after acquiring an additional 47,943 shares during the period. Chartwell Investment Partners LLC boosted its holdings in shares of PC Tel by 2.2% during the second quarter. Chartwell Investment Partners LLC now owns 1,866,338 shares of the Wireless communications provider’s stock valued at $11,646,000 after acquiring an additional 39,980 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of PC Tel by 10.5% during the second quarter. Royce & Associates LP now owns 268,838 shares of the Wireless communications provider’s stock valued at $1,678,000 after acquiring an additional 25,569 shares during the period. 75.47% of the stock is owned by 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 operates in two segments, Connected Solutions and RF Solutions. The Connected Solutions segment designs and delivers 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.

Further Reading: Return on Investment (ROI) Defined, Explained

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