UTStarcom Holdings Corp (UTSI) Downgraded by Zacks Investment Research to Hold
UTStarcom Holdings Corp (NASDAQ:UTSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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 UTStarcom Holdings Corp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th.
UTStarcom Holdings Corp (UTSI) remained flat at $3.11 during mid-day trading on Thursday. The company’s stock had a trading volume of 44,540 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 of $2.51 and a 200 day moving average of $2.23. The firm has a market cap of $110.16 million, a PE ratio of 19.68 and a beta of -0.30.
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Institutional investors have recently made changes to their positions in the company. 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 during the last quarter. Spark Investment Management LLC raised its holdings 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 buying an additional 26,200 shares during the period. Goldman Sachs Group Inc. raised its holdings 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 buying an additional 21,678 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of UTStarcom Holdings Corp in the 2nd quarter valued at $141,000. 25.93% of the stock is currently owned by institutional investors and hedge funds.
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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