UTStarcom (NASDAQ:UTSI) released its quarterly earnings data on Friday. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06, MarketWatch Earnings reports. UTStarcom had a net margin of 2.71% and a return on equity of 3.16%. The firm had revenue of $52.09 million for the quarter, compared to the consensus estimate of $40.50 million. During the same period last year, the firm earned ($0.04) earnings per share. UTStarcom updated its Q4 2018 guidance to EPS.
UTSI traded down $0.03 during trading on Friday, hitting $3.60. The stock had a trading volume of 5,011 shares, compared to its average volume of 16,158. The company has a market cap of $131.37 million, a price-to-earnings ratio of 16.37 and a beta of 0.29. UTStarcom has a twelve month low of $3.16 and a twelve month high of $6.51.
A number of equities analysts have recently issued reports on UTSI shares. ValuEngine upgraded shares of UTStarcom from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. TheStreet upgraded shares of UTStarcom from a “d+” rating to a “c” rating in a research note on Wednesday, August 8th.
A hedge fund recently raised its stake in UTStarcom stock. Renaissance Technologies LLC raised its position in UTStarcom Holdings Corp (NASDAQ:UTSI) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,184,497 shares of the Wireless communications provider’s stock after acquiring an additional 17,000 shares during the period. Renaissance Technologies LLC owned approximately 3.34% of UTStarcom worth $4,833,000 as of its most recent filing with the Securities & Exchange Commission. 26.49% of the stock is currently owned by institutional investors.
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UTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications worldwide. The company helps network operators to offer communication services for its customers. Its products line include various platforms that leverage its expertise in packet optical communications, routing and switching technologies, broadband access, wireless communications, and synchronization.
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