UTStarcom Holdings Corp (UTSI) Given Consensus Rating of “Strong Buy” by Analysts

Shares of UTStarcom Holdings Corp (NASDAQ:UTSI) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus price target of $5.50 for the company and are predicting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also given UTStarcom an industry rank of 88 out of 257 based on the ratings given to related companies.

Several brokerages recently commented on UTSI. TheStreet upgraded UTStarcom from a “d+” rating to a “c” rating in a research report on Wednesday, August 8th. ValuEngine upgraded UTStarcom from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th.

An institutional investor recently raised its position in UTStarcom stock. Renaissance Technologies LLC lifted its holdings in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184,497 shares of the Wireless communications provider’s stock after purchasing an additional 17,000 shares during the period. Renaissance Technologies LLC owned 3.34% of UTStarcom worth $4,833,000 at the end of the most recent reporting period. Institutional investors own 4.42% of the company’s stock.

Shares of UTSI stock traded up $0.02 on Thursday, hitting $3.51. The company had a trading volume of 18,600 shares, compared to its average volume of 54,215. UTStarcom has a twelve month low of $3.21 and a twelve month high of $6.51. The stock has a market cap of $125.34 million, a price-to-earnings ratio of 15.95 and a beta of 0.29.

UTStarcom (NASDAQ:UTSI) last announced its earnings results on Friday, November 9th. The Wireless communications provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. UTStarcom had a return on equity of 2.79% and a net margin of 2.09%. The company had revenue of $52.09 million for the quarter, compared to analyst estimates of $40.50 million. During the same quarter in the prior year, the company earned ($0.04) EPS. As a group, equities analysts forecast that UTStarcom will post 0.25 earnings per share for the current year.

UTStarcom Company Profile

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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