UTStarcom (NASDAQ:UTSI) released its quarterly earnings results on Friday. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06, MarketWatch Earnings reports. UTStarcom had a net margin of 2.71% and a return on equity of 3.16%. The firm had revenue of $52.09 million during the quarter, compared to analyst estimates of $40.50 million. During the same quarter last year, the business earned ($0.04) EPS. UTStarcom updated its Q4 2018 guidance to EPS.

Shares of UTSI stock traded down $0.03 during trading hours on Friday, hitting $3.60. 5,011 shares of the company were exchanged, compared to its average volume of 16,158. The company has a market cap of $131.37 million, a price-to-earnings ratio of 16.37 and a beta of 0.29. UTStarcom has a fifty-two week low of $3.16 and a fifty-two week high of $6.51.

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

An institutional investor recently raised its position in UTStarcom stock. JPMorgan Chase & Co. lifted its stake in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) by 254.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,188 shares of the Wireless communications provider’s stock after buying an additional 76,267 shares during the quarter. JPMorgan Chase & Co. owned about 0.30% of UTStarcom worth $522,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 26.49% of the company’s stock.

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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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Earnings History for UTStarcom (NASDAQ:UTSI)

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