UTStarcom (NASDAQ:UTSI) Raised to Strong-Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of UTStarcom (NASDAQ:UTSI) from a hold rating to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $3.50 price objective on the Wireless communications provider’s stock.

According to Zacks, “UTStarcom Holdings Corp. is engaged in providing interactive Protocol based network solutions. The Company also provides integration and support services in Internet Protocol TV, Interactive TV, Internet TV and Broadband for cable and telecom operators. It designs and sells IP-based telecommunications infrastructure products including its primary product suite of IPTV, and broadband solutions along with the services relating to the installation, operation and maintenance of these products. UTStarcom Holdings Corp., formerly known as UTStarcom, Inc., is headquartered in Beijing, China. “

A number of other analysts have also issued reports on the stock. TheStreet lowered shares of YRC Worldwide from a c rating to a d+ rating in a research note on Wednesday, May 15th. ValuEngine upgraded shares of Valmont Industries from a sell rating to a hold rating in a research note on Friday, July 12th.

Shares of NASDAQ:UTSI opened at $3.08 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $3.10. The company has a market capitalization of $110.41 million, a price-to-earnings ratio of 77.50 and a beta of 0.84. UTStarcom has a 12-month low of $2.59 and a 12-month high of $4.11.

UTStarcom (NASDAQ:UTSI) last issued its quarterly earnings results on Friday, May 10th. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The business had revenue of $24.65 million during the quarter, compared to analyst estimates of $22.50 million. UTStarcom had a net margin of 1.25% and a return on equity of 1.45%. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, analysts forecast that UTStarcom will post -0.1 earnings per share for the current fiscal year.

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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