Recent Insider Buys at PCTEL Inc.
Martin Singer (Insider Trades), chairman and CEO of PCTEL Inc. (PCTI), bought 2,000 shares of the company on Sept. 8. The average price per share was $6.08, for a total transaction cost of $12,160. PCTEL delivers performance critical telecom solutions with antennas and site solutions to improve wireless networks globally.
PCTI insider buy volume and numbers decreased from 2012 to 2014. In 2012, there were four insider buys totaling 16,786 shares, compared to one insider buy totaling 5,000 shares in 2014. The number of PCTI insider buys increased to two from January to September 2015, but the volume remained less than in 2014, at 4,000 shares. On the other hand, the number and volume of PCTI insider sells increased from three transactions totaling 19,682 shares in 2012, to five transactions totaling 42,000 from January to September 2015 alone. During this period, the peak number of insider sales was 21.
Singer bought 109,137 shares in 12 insider buys, and sold 689,999 shares in 39 insider sells of the company since August 2003. The price changes of Singer's earliest insider buy in November 2004, and earliest insider sell in August 2003 is -23% and -42%. For more information about insider trades with PCTEL Inc., click here.
PCTEL Inc. reported net income of $347,000, or $0.02 per share in the second quarter of 2015. Net income decreased $198,000 in comparison to the second quarter of 2014. Cash dividend increased from $0.04 to $0.05 per share during this period of time. On July 24, the company announced a cash dividend of $0.05 payable on Aug. 14 to shareholders of record at the close of business on Aug. 7. PCTEL also reported revenue of $27.625 million in the second quarter of 2015, up from $26.182 million reported in the corresponding quarter of 2014. Annual revenue for the company increased 12.5% since 2010.
Net income also follows an increasing trend since 2000.
On Aug. 10, PCTEL announced the authorization by the company's board of directors to re-purchase an additional 1.3 million shares of common stock on top of the 0.5 million shares authorized in April. The company has repurchased $73 million shares of its common stock since 2002. PCTEL Inc. also announced a partnership with Ascom Network Testing in order to streamline the process of network site and cluster acceptance. Ascom offers network data collection, while PCTEL brings Meridian, a cloud-based network acceptance service, to the collaboration.
According to GuruFocus.com data, PCTEL has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.
One guru reduced their stake in PCTEL, while another increased stake in the company during the second quarter of 2015. John Rogers (Trades, Portfolio) (Trades, Portfolio) of Ariel Investment LLC sold 18,295 shares of PCTEL at an average per share price of $7.49. This transaction reduced Rogers' holding with PCTEL by 0.61%. The total estimated gain of Rogers' holding is -17% since the first quarter of 2010. On the other hand, Jim Simons (Trades, Portfolio) (Trades, Portfolio) bought 26,062 shares of PCTI at an average price of $7.49 per share during the second quarter of 2015, increasing his stake in the company by 2.58%. The total estimated gain of the holding since the first quarter of 2010 is -5%.
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This article first appeared on GuruFocus.
