UTStarcom Holdings Corp (UTSI) Upgraded to “Buy” by Zacks Investment Research
UTStarcom Holdings Corp (NASDAQ:UTSI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $3.50 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.11% from the company’s current price.
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 note on Friday, September 15th.
UTStarcom Holdings Corp (NASDAQ:UTSI) opened at 3.15 on Wednesday. The company has a market cap of $111.58 million, a P/E ratio of 19.94 and a beta of -0.30. UTStarcom Holdings Corp has a one year low of $1.60 and a one year high of $3.18. The company has a 50 day moving average of $2.56 and a 200-day moving average of $2.25.
ILLEGAL ACTIVITY WARNING: “UTStarcom Holdings Corp (UTSI) Upgraded to “Buy” by Zacks Investment Research” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/10/25/utstarcom-holdings-corp-utsi-upgraded-to-buy-by-zacks-investment-research.html.
A number of hedge funds and other institutional investors have recently made changes to their positions in UTSI. Virtu KCG Holdings LLC purchased a new stake in UTStarcom Holdings Corp during the 2nd quarter valued at about $141,000. Spark Investment Management LLC boosted its holdings in 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in 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. 25.93% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for UTStarcom Holdings Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UTStarcom Holdings Corp and related companies with MarketBeat.com's FREE daily email newsletter.