Millennium Management LLC bought a new stake in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,735 shares of the Wireless communications provider’s stock, valued at approximately $235,000. Millennium Management LLC owned approximately 0.12% of UTStarcom at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Navellier & Associates Inc purchased a new stake in shares of UTStarcom during the 4th quarter valued at about $259,000. Virtu Financial LLC purchased a new stake in shares of UTStarcom during the 4th quarter valued at about $468,000. Geode Capital Management LLC raised its position in shares of UTStarcom by 337.0% during the 4th quarter. Geode Capital Management LLC now owns 93,044 shares of the Wireless communications provider’s stock valued at $522,000 after buying an additional 71,754 shares in the last quarter. Deutsche Bank AG raised its position in shares of UTStarcom by 11.9% during the 4th quarter. Deutsche Bank AG now owns 114,265 shares of the Wireless communications provider’s stock valued at $642,000 after buying an additional 12,156 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in UTStarcom by 13.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,175,097 shares of the Wireless communications provider’s stock worth $6,616,000 after purchasing an additional 142,100 shares during the period. Hedge funds and other institutional investors own 26.48% of the company’s stock.
UTStarcom traded down $0.10, reaching $4.23, during midday trading on Friday, MarketBeat.com reports. The stock had a trading volume of 45,400 shares, compared to its average volume of 80,430. UTStarcom Holdings Corp has a 52-week low of $1.97 and a 52-week high of $6.51.
Separately, TheStreet lowered shares of UTStarcom from a “c” rating to a “d+” rating in a research report on Monday, May 14th.
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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