UTStarcom Holdings Corp (UTSI) Reaches New 12-Month High at $3.22

Shares of UTStarcom Holdings Corp (NASDAQ:UTSI) hit a new 52-week high during trading on Tuesday . The company traded as high as $3.22 and last traded at $3.17, with a volume of 53800 shares changing hands. The stock had previously closed at $3.18.

UTSI has been the subject of a number of research analyst reports. ValuEngine downgraded UTStarcom Holdings Corp from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research raised UTStarcom Holdings Corp 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.

The firm has a market cap of $117.93, a price-to-earnings ratio of 158.50 and a beta of -0.25.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spark Investment Management LLC grew its holdings 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 valued at $113,000 after purchasing an additional 26,200 shares during the period. Virtu KCG Holdings LLC bought a new position in UTStarcom Holdings Corp during the second quarter valued at $141,000. Goldman Sachs Group Inc. grew its holdings 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 valued at $177,000 after purchasing an additional 21,678 shares during the period. Macquarie Group Ltd. bought a new position in UTStarcom Holdings Corp during the third quarter valued at $297,000. Finally, Renaissance Technologies LLC grew its holdings 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 valued at $1,625,000 after purchasing an additional 14,000 shares during the period. 25.93% of the stock is owned by institutional investors and hedge funds.

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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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