UTStarcom (UTSI) Posts Quarterly Earnings Results, Hits Expectations

UTStarcom (NASDAQ:UTSI) posted its quarterly earnings data on Friday. The Wireless communications provider reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $52.09 million during the quarter, compared to the consensus estimate of $40.50 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. UTStarcom updated its Q4 2018 guidance to EPS.

Shares of UTStarcom stock traded down $0.03 during trading on Friday, hitting $3.60. 5,011 shares of the company’s stock were exchanged, compared to its average volume of 16,158. UTStarcom has a 52-week low of $3.16 and a 52-week high of $6.51. The stock has a market cap of $131.37 million, a PE ratio of 16.37 and a beta of 0.29.

An institutional investor recently raised its position in UTStarcom stock. Renaissance Technologies LLC increased its holdings in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,184,497 shares of the Wireless communications provider’s stock after purchasing 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 and Exchange Commission (SEC). Institutional investors own 26.49% of the company’s stock.

Several research firms have recently commented on UTSI. TheStreet upgraded shares of UTStarcom from a “d+” rating to a “c” rating in a research note on Wednesday, August 8th. ValuEngine upgraded shares of UTStarcom from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th.

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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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