UTStarcom Holdings Corp (UTSI) Upgraded at 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, October 18th. The firm currently has a $3.50 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.41% from the company’s previous close.

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 lowered UTStarcom Holdings Corp from a “hold” rating to a “sell” rating in a report on Thursday, August 17th.

UTStarcom Holdings Corp (NASDAQ UTSI) traded down $0.05 on Wednesday, hitting $3.17. The stock had a trading volume of 50,500 shares, compared to its average volume of 132,258. The stock has a market capitalization of $115.21, a price-to-earnings ratio of 161.00 and a beta of -0.25. UTStarcom Holdings Corp has a one year low of $1.60 and a one year high of $3.22.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in UTStarcom Holdings Corp by 1.7% during the first 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. Goldman Sachs Group Inc. lifted its stake in UTStarcom Holdings Corp by 40.2% during the second 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. Virtu KCG Holdings LLC bought a new position in UTStarcom Holdings Corp during the second quarter worth about $141,000. Finally, Spark Investment Management LLC lifted its stake in UTStarcom Holdings Corp by 116.4% during the second 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. Institutional investors and hedge funds own 25.93% of the company’s stock.

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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