UTStarcom Holdings Corp (NASDAQ:UTSI) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $5.00 for the company, according to Zacks. Zacks has also given UTStarcom an industry rank of 83 out of 265 based on the ratings given to its competitors.
Several research firms have recently weighed in on UTSI. Zacks Investment Research upgraded shares of UTStarcom from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Wednesday, October 18th. Northland Securities set a $5.00 price objective on shares of UTStarcom and gave the company a “buy” rating in a research report on Saturday. Finally, ValuEngine upgraded shares of UTStarcom from a “sell” rating to a “hold” rating in a research report on Friday, September 15th.
UTStarcom (NASDAQ:UTSI) last announced its quarterly earnings results on Monday, November 20th. The Wireless communications provider reported $0.07 EPS for the quarter. The firm had revenue of $26.03 million during the quarter. During the same period last year, the firm posted ($0.04) earnings per share.
Several institutional investors have recently bought and sold shares of UTSI. Macquarie Group Ltd. purchased a new position in UTStarcom in the 3rd quarter worth $297,000. Virtu KCG Holdings LLC purchased a new position in UTStarcom in the 2nd quarter worth $141,000. Spark Investment Management LLC raised its position in UTStarcom by 116.4% in the 2nd quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock worth $113,000 after purchasing an additional 26,200 shares during the period. Goldman Sachs Group Inc. raised its position in UTStarcom by 40.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock worth $177,000 after purchasing an additional 21,678 shares during the period. Finally, Renaissance Technologies LLC raised its position in UTStarcom by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock worth $1,625,000 after purchasing an additional 14,000 shares during the period. Hedge funds and other institutional investors own 27.18% of the company’s stock.
UTStarcom 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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