UTStarcom (NASDAQ:UTSI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $3.50 price target on the Wireless communications provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.90% from the stock’s current price.
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. “
Several other equities analysts have also commented on UTSI. TheStreet lowered shares of YRC Worldwide from a “c” rating to a “d+” rating in a report on Wednesday, May 15th. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th.
UTStarcom (NASDAQ:UTSI) last posted its earnings results on Friday, May 10th. The Wireless communications provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.06. The company had revenue of $24.65 million for the quarter, compared to analyst estimates of $22.50 million. UTStarcom had a net margin of 1.25% and a return on equity of 1.45%. During the same period in the previous year, the business posted ($0.09) EPS. Sell-side analysts anticipate that UTStarcom will post -0.1 EPS 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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