Zte Corp. (OTCMKTS:ZTCOY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “ZTE Corporation is engaged in providing telecom equipment and networking solutions to telecom operators. The company offers wireless communications systems, wireline switch and access equipment, optical and data communications equipment, mobile phone handsets, data card products, and telecommunications software systems. It also engages in the production of remote control switch systems, multimedia communications systems, and communications transmission systems. The company also provides technical design, development, consultation, and related services for the research, manufacture and production of mobile communications systems equipment, satellite communications, microwave communications equipment, beepers, computer hardware and software, closed-circuit TVs, microwave communications, automated signal control, computer information processing, process monitoring systems, and fire alarm systems. ZTE Corporation is based in Shenzhen, the People’s Republic of China. “

Shares of Zte Corp. (OTCMKTS ZTCOY) traded up 0.74% during midday trading on Friday, hitting $5.41. 391 shares of the company traded hands. The stock’s market capitalization is $11.33 billion. Zte Corp. has a 52 week low of $2.71 and a 52 week high of $5.41. The stock has a 50 day moving average of $5.08 and a 200-day moving average of $4.23.

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About Zte Corp.

ZTE Corporation provides telecommunications and information technology worldwide. It operates through three segments: CarriersÂ’ Networks, Consumer Business, and Government & Corporate Business. The company offers wireless products, such as base stations, network optimization tools, controllers, GoTa products, network management products, and microwave products; optical transmission products, including WDM-OTN and NG-SDH/MSTP; and data communication products that comprise Ethernet switch, IPTN, router and BMSG, and SDN and NFV products.

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