California Public Employees Retirement System held its stake in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,655 shares of the Wireless communications provider’s stock at the close of the second quarter. California Public Employees Retirement System owned 0.19% of UTStarcom worth $154,000 as of its most recent SEC filing.
Separately, Spark Investment Management LLC boosted its stake in UTStarcom by 116.4% in the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 26,200 shares in the last quarter. Institutional investors and hedge funds own 27.18% of the company’s stock.
Several analysts have issued reports on UTSI shares. Zacks Investment Research lowered UTStarcom from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Northland Securities set a $5.00 target price on UTStarcom and gave the stock a “buy” rating in a research note on Saturday, November 25th. Finally, ValuEngine raised UTStarcom from a “sell” rating to a “hold” rating in a research note on Friday, September 15th.
UTStarcom (NASDAQ:UTSI) last issued its earnings results on Monday, November 20th. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $26.03 million during the quarter. During the same period in the prior year, the company posted ($0.04) earnings per share.
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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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