UTStarcom Holdings Corp (UTSI) Given $6.00 Consensus Price Target by Brokerages
UTStarcom Holdings Corp (NASDAQ:UTSI) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price target of $6.00 for the company, according to Zacks. Zacks has also given UTStarcom an industry rank of 103 out of 255 based on the ratings given to related companies.
Several equities analysts have commented on the company. TheStreet upgraded UTStarcom from a “d+” rating to a “c” rating in a report on Wednesday, August 8th. ValuEngine upgraded UTStarcom from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th.
A number of hedge funds have recently made changes to their positions in UTSI. Renaissance Technologies LLC grew its stake in shares of UTStarcom by 1.5% in the second quarter. Renaissance Technologies LLC now owns 1,184,497 shares of the Wireless communications provider’s stock worth $4,833,000 after acquiring an additional 17,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of UTStarcom by 254.9% in the first quarter. JPMorgan Chase & Co. now owns 106,188 shares of the Wireless communications provider’s stock worth $522,000 after acquiring an additional 76,267 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of UTStarcom in the fourth quarter worth $235,000. Finally, Deutsche Bank AG grew its stake in shares of UTStarcom by 11.9% in the fourth quarter. Deutsche Bank AG now owns 114,265 shares of the Wireless communications provider’s stock worth $642,000 after acquiring an additional 12,156 shares during the last quarter. Institutional investors own 26.49% of the company’s stock.
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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