UTStarcom (UTSI) Announces Quarterly Earnings Results, Meets Estimates

UTStarcom (NASDAQ:UTSI) issued its quarterly earnings data on Friday. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06, MarketWatch Earnings reports. The company had revenue of $52.09 million for the quarter, compared to analyst estimates of $40.50 million. UTStarcom had a net margin of 2.71% and a return on equity of 3.16%. During the same period last year, the company posted ($0.04) earnings per share. UTStarcom updated its Q4 2018 guidance to EPS.

UTSI stock traded down $0.03 during trading on Friday, hitting $3.60. 5,011 shares of the company’s stock traded hands, compared to its average volume of 16,158. The firm 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 1 year low of $3.16 and a 1 year high of $6.51.

Several equities analysts recently issued reports on UTSI shares. ValuEngine raised shares of UTStarcom from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. TheStreet raised 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. Renaissance Technologies LLC raised its position in UTStarcom Holdings Corp (NASDAQ:UTSI) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,184,497 shares of the Wireless communications provider’s stock after acquiring an additional 17,000 shares during the period. Renaissance Technologies LLC owned approximately 3.34% of UTStarcom worth $4,833,000 as of its most recent filing with the Securities & Exchange Commission. 26.49% of the stock is currently owned by institutional investors and hedge funds.

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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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