UTStarcom Holdings Corp (NASDAQ:UTSI) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, Zacks Investment Research lowered shares of UTStarcom Holdings Corp from a “buy” rating to a “hold” rating in a research report on Friday, July 14th.

Shares of UTStarcom Holdings Corp (UTSI) opened at 2.30 on Friday. The stock has a market cap of $81.39 million, a price-to-earnings ratio of 82.14 and a beta of -0.34. The stock’s 50 day moving average is $2.12 and its 200 day moving average is $2.09. UTStarcom Holdings Corp has a 52-week low of $1.60 and a 52-week high of $2.40.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in UTStarcom Holdings Corp by 1.7% during the first quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock worth $1,625,000 after acquiring an additional 14,000 shares during the last quarter. Schneider Capital Management Corp boosted its position in UTStarcom Holdings Corp by 6.1% during the first quarter. Schneider Capital Management Corp now owns 516,490 shares of the Wireless communications provider’s stock worth $1,012,000 after acquiring an additional 29,662 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in UTStarcom Holdings Corp by 40.2% during the second quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock worth $177,000 after acquiring an additional 21,678 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in UTStarcom Holdings Corp during the second quarter worth approximately $141,000. Finally, Spark Investment Management LLC boosted its position in UTStarcom Holdings Corp by 116.4% during the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock worth $113,000 after acquiring an additional 26,200 shares during the last quarter. Hedge funds and other institutional investors own 25.93% of the company’s stock.

UTStarcom Holdings Corp Company Profile

UTStarcom Holdings Corp. provides broadband products, solution and services. The Company delivers broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment, which is focused on its equipment sales, including network infrastructure and application products, and Services, which is engaged in providing services and support of its equipment products and also the new operational support segment.

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