PCTEL, Inc. (PCTI - Free Report) recently announced that it has augmented its Industrial IoT portfolio. The move adds industrial access points, sensor communication and radio modules to the company’s cutting-edge line of purpose-built antennas.
The company offers custom sensor communication modules to wirelessly monitor and disseminate critical information over long distances in harsh environments. PCTEL’s expanded capabilities enable it to combine sensors, edge computing, antennas and transceivers into ruggedized solutions for the industrial IoT market.
Additionally, the company’s 5G scanning receiver business continues to drive revenue growth and gross margin in a market that is in its early stage. PCTEL is encouraged by the number of industrial IoT applications and believes that the demand for its antenna solutions will support long-term growth. Also, cost reduction and realignment initiatives are likely to aid its performance in the coming quarters.
In June, the company added public safety LTE grid testing and enhanced P25 signal quality measurements to its public safety network testing solution. The capabilities support two growing trends in public safety communications across the United States, which include strict code-based grid testing requirements to ensure in-building coverage for first responders, and the adoption of FirstNet and other LTE-based broadband networks for enhanced public safety communications.
Furthermore, PCTEL introduced LTE multiband antenna that helps boost data rates and reliability for utility networks. Its 5-port base station omni-directional antenna has been designed for fixed public and private LTE and industrial IoT network deployments.
Backed by strong execution of operational strategies, the stock has rallied 106.3% compared with the industry’s growth of 25.2% year to date.
The Zacks Consensus Estimate for its current-year earnings has been revised 7.3% upward over the past 30 days. Notably, the company surpassed earnings estimates in each of the trailing four quarters, delivering an average beat of 150.6%.
PCTEL currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the industry include Qualcomm Incorporated (QCOM - Free Report) , Ubiquiti Inc. (UI - Free Report) and Viasat, Inc. (VSAT - Free Report) . While Qualcomm and Ubiquiti sport a Zacks Rank #1 (Strong Buy), Viasat carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Qualcomm has long-term earnings growth expectation of 14%.
Ubiquiti has long-term earnings growth expectation of 9.4%.
Viasat topped earnings estimates in each of the trailing four quarters, the average surprise being 252%.
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