Sean Shao Sells 14,533 Shares of UTStarcom (NASDAQ:UTSI) Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) Director Sean Shao sold 14,533 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $2.38, for a total transaction of $34,588.54. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $23,800. This trade represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

UTStarcom Stock Up 1.3%

NASDAQ:UTSI opened at $2.35 on Friday. The company has a 50-day moving average price of $2.48 and a 200-day moving average price of $2.52. UTStarcom Holdings Corp has a 12 month low of $2.00 and a 12 month high of $3.63.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of UTStarcom in a report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

UTStarcom Company Profile

UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.