| Over a week ago | ||||
East Coast IDEAS Investor… East Coast IDEAS Investor Virtual Conference will be held on June 23-24. Webcast Link | ||||
East Coast IDEAS Investor… East Coast IDEAS Investor Virtual Conference will be held on June 23-24. Webcast Link | ||||
| Over a quarter ago | ||||
PCTEL announced that the… PCTEL announced that the board has terminated the company's previously announced share repurchase program. The board does not presently intend to modify the company's dividend policy. "Given the uncertainty surrounding the COVID-19 virus and its impact on economic and market conditions, the Board determined that it is prudent to terminate the share repurchase program," said David Neumann, PCTEL's CEO. "Maintaining our strong balance sheet will allow PCTEL flexibility to address the unique and evolving challenges presented by the COVID-19 situation." In connection with the termination of the share repurchase program, the Company has also terminated a plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, that was in place to facilitate market repurchases. Under the now terminated share repurchase program, the company repurchased approximately 375,000 shares of common stock for an aggregate purchase price of approximately $2 million. Following these repurchases, the Company had approximately 18.5 million shares of common stock outstanding. | ||||
PCTEL announced that the… PCTEL announced that the board has reauthorized a share repurchase program pursuant to which the company may repurchase up to $7M of its common stock through the end of 2020. | ||||
While… While "disappointed" in PCTEL's "weak" outlook, Lake Street analyst Jaeson Schmidt does not believe it reflects the thesis is broken. In the near term, the analyst looks for valuation, the "strong" balance sheet, the buyback and a 3.1% dividend yield to "help provide a backstop on shares." Schmidt keeps a Buy rating on PCTEL with an $8 price target. | ||||
Reports Q4 revenue… Reports Q4 revenue $22.9M, two estimates $23.75M. Q4 Adjusted EBITDA margin was 16.3% vs. 5.8% last year. "We are pleased with our performance in 2019 and year over year growth driven mainly by the success of our 5G testing solutions," said David Neumann, PCTEL's CEO. "Antennas and radio solutions in our intelligent transportation and industrial IoT market segments are expected to drive growth over the long term as customers demand ultra-reliable connectivity for their IoT business critical systems." | |
Meeting to be held in Los… Meeting to be held in Los Angeles, CA on January 22 hosted by B. Riley FBR. | |
Meeting to be held in Los… Meeting to be held in Los Angeles, CA on January 22 hosted by B. Riley FBR. | |
Southwest Ideas… Southwest Ideas Conference will be held in Dallas on November 20-21. | |
Southwest Ideas… Southwest Ideas Conference will be held in Dallas on November 20-21. |