UTStarcom (NASDAQ:UTSI) Given a $5.00 Price Target at Northland Securities

UTStarcom (NASDAQ:UTSI) has been assigned a $5.00 price objective by equities research analysts at Northland Securities in a research note issued to investors on Saturday, November 25th. The brokerage currently has a “buy” rating on the Wireless communications provider’s stock. Northland Securities’ price objective would indicate a potential downside of 16.39% from the stock’s current price.

A number of other brokerages have also recently weighed in on UTSI. Zacks Investment Research raised shares of UTStarcom from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Wednesday, October 18th. ValuEngine raised shares of UTStarcom from a “sell” rating to a “hold” rating in a research report on Friday, September 15th.

Shares of UTStarcom (NASDAQ UTSI) traded up $0.73 during midday trading on Friday, hitting $5.98. 912,697 shares of the company traded hands, compared to its average volume of 80,484. UTStarcom has a 12-month low of $1.66 and a 12-month high of $6.20.

UTStarcom (NASDAQ:UTSI) last issued its quarterly earnings results on Monday, November 20th. The Wireless communications provider reported $0.07 EPS for the quarter. The firm had revenue of $26.03 million for the quarter. During the same period in the previous year, the business posted ($0.04) EPS.

A number of hedge funds have recently added to or reduced their stakes in UTSI. Spark Investment Management LLC grew its position in shares of UTStarcom by 116.4% during the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 26,200 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in UTStarcom in the second quarter worth about $141,000. Goldman Sachs Group Inc. lifted its holdings in UTStarcom by 40.2% in the second quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock worth $177,000 after purchasing an additional 21,678 shares during the period. Macquarie Group Ltd. acquired a new stake in UTStarcom in the third quarter worth about $297,000. Finally, Renaissance Technologies LLC lifted its holdings in UTStarcom by 1.7% in the first quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock worth $1,625,000 after purchasing an additional 14,000 shares during the period. Hedge funds and other institutional investors own 27.18% of the company’s stock.

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About UTStarcom

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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