TheStreet downgraded shares of UTStarcom (NASDAQ:UTSI) from a c rating to a d+ rating in a report issued on Monday.
Shares of UTSI opened at $4.88 on Monday. UTStarcom has a 12 month low of $4.93 and a 12 month high of $4.96.
UTStarcom (NASDAQ:UTSI) last announced its quarterly earnings data on Friday, May 11th. The Wireless communications provider reported $0.11 earnings per share for the quarter. The firm had revenue of $22.59 million for the quarter. During the same period last year, the business posted $0.15 earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new position in UTStarcom during the fourth quarter valued at $235,000. Navellier & Associates Inc bought a new position in UTStarcom during the fourth quarter valued at $259,000. Virtu Financial LLC bought a new position in UTStarcom during the fourth quarter valued at $468,000. Geode Capital Management LLC grew its holdings in UTStarcom by 337.0% during the fourth quarter. Geode Capital Management LLC now owns 93,044 shares of the Wireless communications provider’s stock valued at $522,000 after purchasing an additional 71,754 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in UTStarcom by 254.9% during the first quarter. JPMorgan Chase & Co. now owns 106,188 shares of the Wireless communications provider’s stock valued at $522,000 after purchasing an additional 76,267 shares during the period. 27.00% of the stock is owned by institutional investors and hedge funds.
UTStarcom Company Profile
UTStarcom Holdings Corp., together with its subsidiaries, operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications. The company offers broadband packet optical transport and wireless/fixed-line access products and solutions.
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