UTStarcom (NASDAQ:UTSI) has been given a $5.00 price objective by analysts at Northland Securities in a report issued on Saturday, November 25th. The firm presently has a “buy” rating on the Wireless communications provider’s stock. Northland Securities’ target price would indicate a potential downside of 19.74% from the company’s current price.
UTSI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of UTStarcom from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Wednesday, October 18th. ValuEngine upgraded shares of UTStarcom from a “sell” rating to a “hold” rating in a report on Friday, September 15th.
Shares of UTStarcom (NASDAQ:UTSI) traded up $0.25 during trading hours on Friday, reaching $6.23. 290,477 shares of the company’s stock traded hands, compared to its average volume of 81,362. UTStarcom has a 52 week low of $1.66 and a 52 week high of $6.25.
UTStarcom (NASDAQ:UTSI) last posted its quarterly earnings results on Monday, November 20th. The Wireless communications provider reported $0.07 EPS for the quarter. The company had revenue of $26.03 million for the quarter. During the same quarter in the prior year, the company posted ($0.04) EPS.
Hedge funds have recently added to or reduced their stakes in the business. Spark Investment Management LLC boosted its holdings in UTStarcom by 116.4% during the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock valued at $113,000 after acquiring an additional 26,200 shares during the period. Virtu KCG Holdings LLC bought a new stake in UTStarcom during the second quarter valued at about $141,000. Goldman Sachs Group Inc. boosted its holdings in UTStarcom by 40.2% during the second quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock valued at $177,000 after acquiring an additional 21,678 shares during the period. Macquarie Group Ltd. bought a new stake in UTStarcom during the third quarter valued at about $297,000. Finally, Renaissance Technologies LLC boosted its holdings in UTStarcom by 1.7% during the first quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock valued at $1,625,000 after acquiring an additional 14,000 shares during the period. Institutional investors own 27.18% of the company’s stock.
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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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