Zacks: Analysts Set $6.00 Target Price for UTStarcom Holdings Corp (UTSI)

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

Brokers have set a twelve-month consensus price target of $6.00 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also assigned UTStarcom an industry rank of 54 out of 255 based on the ratings given to its competitors.

UTSI has been the topic of several research reports. TheStreet raised shares of UTStarcom from a “d+” rating to a “c” rating in a report on Wednesday, August 8th. ValuEngine raised shares of UTStarcom from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th.

Shares of UTSI stock opened at $3.74 on Tuesday. The company has a market cap of $129.24 million, a P/E ratio of 17.00 and a beta of 0.13. UTStarcom has a 52-week low of $3.05 and a 52-week high of $6.51.

A hedge fund recently raised its stake in UTStarcom stock. Renaissance Technologies LLC boosted its holdings in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,184,497 shares of the Wireless communications provider’s stock after buying an additional 17,000 shares during the quarter. Renaissance Technologies LLC owned approximately 3.34% of UTStarcom worth $4,833,000 as of its most recent SEC filing. 26.49% of the stock is currently owned by institutional investors and hedge funds.

About UTStarcom

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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