Zacks Investment Research upgraded shares of UTStarcom Holdings Corp (NASDAQ:UTSI) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $3.50 price objective on the Wireless communications provider’s stock.
According to Zacks, “UTStarcom Holdings Corp. is engaged in providing interactive Protocol based network solutions. The Company also provides integration and support services in Internet Protocol TV, Interactive TV, Internet TV and Broadband for cable and telecom operators. It designs and sells IP-based telecommunications infrastructure products including its primary product suite of IPTV, and broadband solutions along with the services relating to the installation, operation and maintenance of these products. UTStarcom Holdings Corp., formerly known as UTStarcom, Inc., is headquartered in Beijing, China. “
Separately, ValuEngine upgraded UTStarcom Holdings Corp from a sell rating to a hold rating in a research report on Friday, September 15th.
Shares of UTStarcom Holdings Corp (NASDAQ:UTSI) traded up 1.63% during trading on Wednesday, hitting $3.11. The stock had a trading volume of 48,293 shares. UTStarcom Holdings Corp has a 12-month low of $1.60 and a 12-month high of $3.18. The firm has a 50 day moving average price of $2.45 and a 200 day moving average price of $2.22. The firm has a market cap of $110.16 million, a P/E ratio of 19.68 and a beta of -0.30.
Large investors have recently bought and sold shares of the company. Spark Investment Management LLC grew its position in shares of UTStarcom Holdings Corp by 116.4% during the 2nd quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock valued at $113,000 after acquiring an additional 26,200 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of UTStarcom Holdings Corp during the 2nd quarter valued at about $141,000. Goldman Sachs Group Inc. grew its position in shares of UTStarcom Holdings Corp by 40.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock valued at $177,000 after acquiring an additional 21,678 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of UTStarcom Holdings Corp by 1.7% during the 1st quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock valued at $1,625,000 after acquiring an additional 14,000 shares during the period. Hedge funds and other institutional investors own 25.93% of the company’s stock.
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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