UTStarcom Holdings Corp (UTSI) Receives Consensus Rating of “Strong Buy” from Analysts

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Shares of UTStarcom Holdings Corp (NASDAQ:UTSI) have received 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 rating.

Analysts have set a 1 year consensus target price of $6.00 for the company, according to Zacks. Zacks has also given UTStarcom an industry rank of 74 out of 255 based on the ratings given to related companies.

A number of equities analysts recently weighed in on the company. TheStreet raised UTStarcom from a “d+” rating to a “c” rating in a report on Wednesday, August 8th. ValuEngine raised UTStarcom from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of UTStarcom by 254.9% during the first quarter. JPMorgan Chase & Co. now owns 106,188 shares of the Wireless communications provider’s stock valued at $522,000 after acquiring an additional 76,267 shares during the last quarter. Millennium Management LLC acquired a new position in shares of UTStarcom during the fourth quarter valued at approximately $235,000. Deutsche Bank AG raised its holdings in shares of UTStarcom by 11.9% during the fourth quarter. Deutsche Bank AG now owns 114,265 shares of the Wireless communications provider’s stock valued at $642,000 after acquiring an additional 12,156 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of UTStarcom by 13.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,175,097 shares of the Wireless communications provider’s stock valued at $6,616,000 after acquiring an additional 142,100 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of UTStarcom by 337.0% during the fourth quarter. Geode Capital Management LLC now owns 93,044 shares of the Wireless communications provider’s stock valued at $522,000 after acquiring an additional 71,754 shares during the last quarter. 5.22% of the stock is owned by institutional investors.

NASDAQ UTSI opened at $3.68 on Friday. UTStarcom has a twelve month low of $2.00 and a twelve month high of $6.51.

UTStarcom (NASDAQ:UTSI) last released its quarterly earnings results on Friday, May 11th. The Wireless communications provider reported $0.11 earnings per share for the quarter. The company had revenue of $22.59 million during the quarter. UTStarcom had a return on equity of 3.16% and a net margin of 2.71%. During the same period in the previous year, the company posted $0.15 EPS.

UTStarcom Company Profile

UTStarcom Holdings Corp., together with its subsidiaries, operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications. The company offers broadband packet optical transport and wireless/fixed-line access products and solutions.

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