Westell Technologies (WSTL) Lowered to “Hold” at Zacks Investment Research

Westell Technologies (NASDAQ:WSTL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Saturday.

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, TheStreet raised Westell Technologies from a “d+” rating to a “c-” rating in a research note on Friday, December 15th.

Shares of Westell Technologies (NASDAQ WSTL) opened at $3.92 on Friday. Westell Technologies has a fifty-two week low of $2.28 and a fifty-two week high of $4.60. The firm has a market capitalization of $60.96, a P/E ratio of -26.13 and a beta of 1.77.

Westell Technologies (NASDAQ:WSTL) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.09. Westell Technologies had a positive return on equity of 4.84% and a negative net margin of 3.45%. The company had revenue of $17.23 million for the quarter, compared to analyst estimates of $16.74 million. During the same quarter last year, the firm earned ($0.02) EPS. Westell Technologies’s revenue for the quarter was down 3.1% compared to the same quarter last year. equities research analysts anticipate that Westell Technologies will post 0.23 earnings per share for the current year.

An institutional investor recently raised its position in Westell Technologies stock. Essex Investment Management Co. LLC boosted its stake in Westell Technologies Inc. (NASDAQ:WSTL) by 160.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,162 shares of the communications equipment provider’s stock after buying an additional 80,120 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.85% of Westell Technologies worth $387,000 at the end of the most recent quarter. 28.36% of the stock is currently owned by hedge funds and other institutional investors.

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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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