PCTEL (NASDAQ:PCTI) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of PCTEL (NASDAQ:PCTI – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a strong-buy rating on the Wireless communications provider’s stock.

PCTEL Price Performance

Shares of NASDAQ:PCTI opened at $4.23 on Thursday. PCTEL has a 12 month low of $3.90 and a 12 month high of $5.68. The stock has a market cap of $79.40 million, a price-to-earnings ratio of 28.20 and a beta of 0.43. The stock’s 50 day moving average price is $4.66 and its 200 day moving average price is $4.60.

PCTEL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Wednesday, February 8th were issued a dividend of $0.055 per share. The ex-dividend date was Tuesday, February 7th. This represents a $0.22 annualized dividend and a yield of 5.20%. PCTEL’s payout ratio is 146.68%.

Institutional Investors Weigh In On PCTEL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCTI. Millennium Management LLC increased its holdings in shares of PCTEL by 16.1% in the fourth quarter. Millennium Management LLC now owns 205,200 shares of the Wireless communications provider’s stock valued at $882,000 after buying an additional 28,527 shares in the last quarter. Morgan Stanley increased its holdings in shares of PCTEL by 27.3% in the fourth quarter. Morgan Stanley now owns 31,177 shares of the Wireless communications provider’s stock valued at $134,000 after buying an additional 6,689 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of PCTEL in the fourth quarter valued at $63,000. Minerva Advisors LLC bought a new position in shares of PCTEL in the fourth quarter valued at $82,000. Finally, Renaissance Technologies LLC increased its holdings in shares of PCTEL by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,239,898 shares of the Wireless communications provider’s stock valued at $5,332,000 after buying an additional 13,312 shares in the last quarter. Institutional investors own 51.52% of the company’s stock.

PCTEL Company Profile

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PCTEL, Inc engages in the provision of antennas and wireless network testing solutions. It designs and manufactures precision antennas and provides test and measurement products that improve the performance of wireless networks globally. The firm’s products include combination antennas, WiFi/Bluetooth/BLE, LMR/TETRA/P25, /GNSS/GPS, cellular(5G, LTE, CBRS, 3G, 2G), custom antennas, and Mounts, Cable, and Accessories.