UTStarcom Holdings Corp (UTSI) Rating Increased to Hold at ValuEngine

UTStarcom Holdings Corp (NASDAQ:UTSI) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, Zacks Investment Research upgraded UTStarcom Holdings Corp from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Thursday, July 13th.

UTStarcom Holdings Corp (NASDAQ:UTSI) opened at 2.31 on Friday. UTStarcom Holdings Corp has a 52-week low of $1.60 and a 52-week high of $2.40. The firm has a 50-day moving average of $2.12 and a 200-day moving average of $2.09. The firm has a market cap of $81.75 million, a PE ratio of 82.50 and a beta of -0.34.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in UTSI. Spark Investment Management LLC lifted its stake in shares of UTStarcom Holdings Corp by 116.4% in the 2nd quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock valued at $113,000 after purchasing an additional 26,200 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of UTStarcom Holdings Corp in the 2nd quarter valued at about $141,000. Goldman Sachs Group Inc. lifted its stake in shares of UTStarcom Holdings Corp by 40.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock valued at $177,000 after purchasing an additional 21,678 shares in the last quarter. Schneider Capital Management Corp lifted its stake in shares of UTStarcom Holdings Corp by 6.1% in the 1st quarter. Schneider Capital Management Corp now owns 516,490 shares of the Wireless communications provider’s stock valued at $1,012,000 after purchasing an additional 29,662 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of UTStarcom Holdings Corp by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock valued at $1,625,000 after purchasing an additional 14,000 shares in the last quarter. 25.93% of the stock is currently owned by institutional investors and hedge funds.

About UTStarcom Holdings Corp

UTStarcom Holdings Corp. provides broadband products, solution and services. The Company delivers broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment, which is focused on its equipment sales, including network infrastructure and application products, and Services, which is engaged in providing services and support of its equipment products and also the new operational support segment.

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