Zacks Investment Research cut shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “

Separately, Northland Securities set a $6.00 price target on Westell Technologies and gave the stock a buy rating in a research note on Friday, August 11th.

Westell Technologies (NASDAQ:WSTL) opened at 2.81 on Thursday. Westell Technologies has a 12-month low of $1.76 and a 12-month high of $3.80. The stock’s market capitalization is $43.28 million. The firm’s 50-day moving average price is $2.91 and its 200 day moving average price is $2.92.

Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Westell Technologies had a negative return on equity of 1.07% and a negative net margin of 13.51%. The firm had revenue of $16.57 million for the quarter, compared to analyst estimates of $15.36 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Westell Technologies will post $0.10 EPS for the current year.

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An institutional investor recently raised its position in Westell Technologies stock. Renaissance Technologies LLC grew its position in shares of Westell Technologies, Inc. (NASDAQ:WSTL) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,773,429 shares of the communications equipment provider’s stock after purchasing an additional 100,900 shares during the period. Renaissance Technologies LLC owned approximately 6.13% of Westell Technologies worth $2,641,000 as of its most recent SEC filing. 27.18% of the stock is owned by hedge funds and other institutional investors.

Westell Technologies Company Profile

Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).

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