Eagle Global Advisors LLC purchased a new position in shares of PC-Tel, Inc. (NASDAQ:PCTI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,430 shares of the Wireless communications provider’s stock, valued at approximately $102,000. Eagle Global Advisors LLC owned 0.09% of PC-Tel as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCTI. Wellington Management Group LLP increased its position in shares of PC-Tel by 24.3% in the first quarter. Wellington Management Group LLP now owns 556,203 shares of the Wireless communications provider’s stock valued at $3,960,000 after buying an additional 108,900 shares in the last quarter. TFS Capital LLC acquired a new position in shares of PC-Tel during the first quarter valued at approximately $205,000. Prudential Financial Inc. increased its position in shares of PC-Tel by 0.8% in the first quarter. Prudential Financial Inc. now owns 52,800 shares of the Wireless communications provider’s stock valued at $376,000 after buying an additional 400 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of PC-Tel by 3.0% in the first quarter. Chartwell Investment Partners LLC now owns 1,281,798 shares of the Wireless communications provider’s stock valued at $9,126,000 after buying an additional 37,142 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of PC-Tel by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,367,099 shares of the Wireless communications provider’s stock valued at $9,734,000 after buying an additional 115,800 shares in the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.

PC-Tel, Inc. (NASDAQ:PCTI) opened at 6.57 on Wednesday. PC-Tel, Inc. has a 52 week low of $4.80 and a 52 week high of $8.48. The stock’s 50 day moving average price is $7.18 and its 200 day moving average price is $6.58. The company’s market capitalization is $108.25 million.

PC-Tel (NASDAQ:PCTI) last announced its quarterly earnings data on Tuesday, May 9th. The Wireless communications provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. PC-Tel had a positive return on equity of 1.99% and a negative net margin of 16.11%. The business had revenue of $25 million during the quarter, compared to analyst estimates of $24.23 million. During the same period in the prior year, the company earned ($0.03) earnings per share. PC-Tel’s revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that PC-Tel, Inc. will post $0.21 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 3.35%. This is a positive change from PC-Tel’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 4th. PC-Tel’s dividend payout ratio is -21.78%.

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Several research analysts have recently commented on the company. Zacks Investment Research downgraded PC-Tel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Wunderlich downgraded PC-Tel from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Wednesday, May 10th. B. Riley reiterated a “buy” rating and set a $9.00 target price on shares of PC-Tel in a research note on Saturday, May 13th. Finally, Lake Street Capital assumed coverage on PC-Tel in a research note on Wednesday, April 12th. They set a “buy” rating and a $8.00 target price for the company.

About PC-Tel

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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Institutional Ownership by Quarter for PC-Tel (NASDAQ:PCTI)

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