Zacks: UTStarcom Holdings Corp (UTSI) Given Consensus Recommendation of “Strong Buy” by Brokerages

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Shares of UTStarcom Holdings Corp (NASDAQ:UTSI) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus target price of $6.00 for the company and are forecasting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned UTStarcom an industry rank of 56 out of 255 based on the ratings given to its competitors.

A number of research firms have weighed in on UTSI. ValuEngine raised shares of UTStarcom from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. TheStreet raised shares of UTStarcom from a “d+” rating to a “c” rating in a research report on Wednesday, August 8th.

UTStarcom stock traded up $0.02 on Tuesday, reaching $3.64. 12,400 shares of the stock were exchanged, compared to its average volume of 56,458. The firm has a market cap of $135.28 million, a price-to-earnings ratio of 16.55 and a beta of 0.13. UTStarcom has a twelve month low of $3.05 and a twelve month high of $6.51.

An institutional investor recently raised its position in UTStarcom stock. JPMorgan Chase & Co. boosted its position in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) by 254.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,188 shares of the Wireless communications provider’s stock after acquiring an additional 76,267 shares during the period. JPMorgan Chase & Co. owned 0.30% of UTStarcom worth $522,000 at the end of the most recent quarter. 26.49% of the stock is owned by institutional investors.

UTStarcom Company Profile

UTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications worldwide. The company helps network operators to offer communication services for its customers. Its products line include various platforms that leverage its expertise in packet optical communications, routing and switching technologies, broadband access, wireless communications, and synchronization.

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