Royce & Associates LP Grows Position in Westell Technologies Inc. (WSTL)

Royce & Associates LP increased its holdings in shares of Westell Technologies Inc. (NASDAQ:WSTL) by 107.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552,938 shares of the communications equipment provider’s stock after buying an additional 286,405 shares during the quarter. Royce & Associates LP owned 3.56% of Westell Technologies worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Essex Investment Management Co. LLC lifted its holdings in shares of Westell Technologies by 160.1% in the 3rd quarter. Essex Investment Management Co. LLC now owns 130,162 shares of the communications equipment provider’s stock valued at $387,000 after buying an additional 80,120 shares during the period. 28.36% of the stock is currently owned by institutional investors.

Shares of Westell Technologies Inc. (NASDAQ WSTL) traded down $0.02 during midday trading on Friday, hitting $3.75. The stock had a trading volume of 37,526 shares, compared to its average volume of 69,217. The firm has a market capitalization of $58.32, a PE ratio of -26.79 and a beta of 1.77. Westell Technologies Inc. has a twelve month low of $2.32 and a twelve month high of $4.60.

Westell Technologies (NASDAQ:WSTL) last posted its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the Zacks’ 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 analysts’ expectations of $16.74 million. During the same period last year, the firm earned ($0.02) earnings per share. Westell Technologies’s quarterly revenue was down 3.1% on a year-over-year basis. equities research analysts predict that Westell Technologies Inc. will post 0.23 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Westell Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 6th. TheStreet raised Westell Technologies from a “d+” rating to a “c-” rating in a report on Friday, December 15th.

TRADEMARK VIOLATION NOTICE: This news story was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/01/13/royce-associates-lp-has-1-64-million-holdings-in-westell-technologies-inc-wstl-updated-updated.html.

About Westell Technologies

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).

Institutional Ownership by Quarter for Westell Technologies (NASDAQ:WSTL)

Receive News & Ratings for Westell Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westell Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply