Geode Capital Management LLC increased its stake in shares of UTStarcom (NASDAQ:UTSI) by 337.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,044 shares of the Wireless communications provider’s stock after buying an additional 71,754 shares during the quarter. Geode Capital Management LLC owned about 0.26% of UTStarcom worth $522,000 at the end of the most recent quarter.
Separately, Navellier & Associates Inc bought a new position in shares of UTStarcom in the fourth quarter worth $259,000. 27.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of UTStarcom traded down $0.01, hitting $4.92, on Wednesday, Marketbeat reports. The company’s stock had a trading volume of 37,589 shares, compared to its average volume of 85,806. UTStarcom has a 12 month low of $4.93 and a 12 month high of $4.96.
Separately, TheStreet cut UTStarcom from a “c” rating to a “d+” rating in a research note on Monday.
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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