Zacks Investment Research downgraded shares of ParkerVision, Inc. (NASDAQ:PRKR) from a hold rating to a sell rating in a research report report published on Tuesday.
According to Zacks, “ParkerVision, Inc. operates two segments – the Video Products Division and the Wireless Technology Division. The Video Division is engaged in the design, development and marketing of automated video camera control systems, marketed under the tradename CameraMan and automated production systems, marketed under the tradename PVTV Studio. The Wireless Division is engaged in the development and initial commercialization of its Direct2Data, or D2D, technology. “
Separately, Ladenburg Thalmann Financial Services reaffirmed a buy rating and set a $12.00 price target on shares of ParkerVision in a research note on Tuesday, June 13th.
ParkerVision (NASDAQ:PRKR) opened at 1.90 on Tuesday. ParkerVision has a 12-month low of $1.60 and a 12-month high of $5.06. The company’s 50-day moving average price is $1.87 and its 200-day moving average price is $2.02. The firm’s market capitalization is $33.78 million.
ParkerVision (NASDAQ:PRKR) last issued its quarterly earnings results on Thursday, August 17th. The semiconductor company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. During the same period last year, the business posted ($0.72) EPS. Equities analysts expect that ParkerVision will post ($0.85) EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the business. Alden Global Capital LLC lifted its stake in ParkerVision by 84.4% in the first quarter. Alden Global Capital LLC now owns 1,092,633 shares of the semiconductor company’s stock valued at $2,174,000 after buying an additional 500,000 shares during the period. Vanguard Group Inc. lifted its stake in ParkerVision by 23.0% in the second quarter. Vanguard Group Inc. now owns 574,253 shares of the semiconductor company’s stock valued at $1,028,000 after buying an additional 107,500 shares during the period. Finally, Ingalls & Snyder LLC lifted its stake in ParkerVision by 14.0% in the second quarter. Ingalls & Snyder LLC now owns 114,200 shares of the semiconductor company’s stock valued at $204,000 after buying an additional 14,000 shares during the period. 12.96% of the stock is currently owned by hedge funds and other institutional investors.
ParkerVision, Inc is engaged in the designing, developing and marketing of its radio frequency (RF) technologies and products. The Company’s business is focused on the development and marketing of its RF technologies for mobile and other wireless applications. Its products include a modulator/demodulator component that incorporates its technologies, as well as a small number of supporting components that are used in the assembly of wireless devices.
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