PCTEL (NASDAQ: PCTI) updated its earnings outlook for the third quarter of 2022 on Tuesday, April 16. The company projected that its earnings per share would fall between $0.09 and $0.11, much higher than the industry standard of $0.07 per share. The company anticipated sales in the range of $25.50 million to $26.50 million, which was significantly higher than the average prediction: that revenues would come in at $25.30 million. NASDAQ PCTI began trading at $5.60 on Tuesday. During its 52-week trading range, PCTEL experienced a new all-time low of $3.90 and a new all-time high of $6.80. At the moment, the share price of the company is trading at $4.57, which is higher than its 200-day moving average price of $4.49.
In addition, the corporation announced a quarterly dividend, and on August 15, that dividend was paid out to stockholders. On Monday, August 8, $0.055 dividend payments were distributed to shareholders who were on record at the time the dividends were declared. The ex-dividend date for the corporation was on August 5, the most recent Friday. This translates to an annual dividend payment of $0.22 per share, giving the company a yield of 3.93% over the year. PCTEL’s financial performance is characterized by a payout ratio of -2,197.80%. [Note: In a second research note distributed on Thursday, August 25, Bloomberg revealed that the company intended to cover PCTEL shares. They advocated for the purchase of the shares to take place.
A hedge fund has just boosted the number of shares of PCTEL stock that it now owns. According to the most recent report that State Street Corporation issued to the Securities and Exchange Commission (SEC), the business boosted the percentage of PCTEL, Inc. (NASDAQ: PCTI) shares it owned by 3.9% during the first quarter of the fiscal year (SEC). Following the acquisition of a further 2,815 shares during the time mentioned above period, the fund’s total holdings of the company’s stock reached 74,607 shares then. At the end of the most recent fiscal quarter, State Street Corporation owned 0.40% of PCTEL, worth $346,000. Most of the company’s stock, or 51.05 percent, is owned by large financial institutions as investors. On a global scale, PCTEL, Inc. and its affiliates provide solutions for test and measurement, antenna systems, and industrial Internet of Things (IoT) devices.
PCTEL is the subject of this information reference. The company designs and makes industrial equipment and gadgets for use with the Internet of Things and precision antennas for use with small cells, business Wi-Fi access points, fleet management, transportation systems, and other similar applications.
