Zacks Investment Research lowered shares of UTStarcom Holdings Corp (NASDAQ:UTSI) from a buy rating to a hold rating in a research note released on Friday morning.
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 raised shares of 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 1.2707% on Friday, hitting $3.1799. 70,095 shares of the company were exchanged. The company has a 50-day moving average price of $2.63 and a 200 day moving average price of $2.28. UTStarcom Holdings Corp has a 52-week low of $1.60 and a 52-week high of $3.18. The firm has a market cap of $112.64 million, a P/E ratio of 20.1259 and a beta of -0.31.
A number of large investors have recently modified their holdings of UTSI. Spark Investment Management LLC grew its position in UTStarcom Holdings Corp by 116.4% in the second 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 in the last quarter. Virtu KCG Holdings LLC acquired a new stake in UTStarcom Holdings Corp in the second quarter valued at approximately $141,000. Goldman Sachs Group Inc. grew its position in UTStarcom Holdings Corp by 40.2% in the second 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 in the last quarter. Finally, Renaissance Technologies LLC grew its position in UTStarcom Holdings Corp by 1.7% in the first 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 in the last quarter. 25.93% of the stock is owned by institutional investors.
UTStarcom Holdings Corp Company Profile
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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