Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

The Wait Goes On At PCTEL

PCTEL (NASDAQ:PCTI) is the sort of tiny tech company that could generate substantial upside if things started clicking, but it has been a long, frustrating wait for that growth to materialize. The company's antenna (Connected Solutions) business has some legitimate addressable growth markets like process automation, precision agriculture, and positive train control, and the company's scanning receivers have substantial share (albeit in a small market). It also doesn't hurt that the company has been free cash flow positive.

Unfortunately, this somewhat thinly-traded, under-followed company isn't generating the strong quarter-in, quarter-out double-digit revenue growth that seems mandatory for most winning tech stocks. I still believe that the company can start reporting double-digit growth again before too long and that...

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