Shanghai Phicomm Communication Company ., Ltd.

stated that they own a 14.1% stake in UTStarcom Holdings Corp (NASDAQ:UTSI) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, September 13th. The investor owns 5,000,000 shares of the stock worth approximately $11,500,000. The reporting parties listed on the disclosure included Gu Guoping, Shanghai Phicomm Communication Co, Ltd,, Phicomm Technology (Hong Kong) Co, Limited, The Smart Soho International Limited, Talent Transmission Limited and Jin Wei. The disclosure is available through the SEC website at this link.

Shanghai Phicomm Communication Company ., Ltd.

provided the following explanation of their ownership:

Item 4 of the Statement is hereby amended by the addition of the following information:
TTL acquired the 738,525 Ordinary Shares reported in Item 5 of this Schedule 13D (Amendment No. 9) for investment. For additional information regarding the purpose of such acquisitions, see Item 4 of the Filing Persons’ Schedule 13D (Amendment No. 7), filed June 9,2017.

Other institutional investors have also recently added to or reduced their stakes in the company. Schneider Capital Management Corp increased its holdings in shares of UTStarcom Holdings Corp by 6.1% in the first quarter. Schneider Capital Management Corp now owns 516,490 shares of the Wireless communications provider’s stock worth $1,012,000 after purchasing an additional 29,662 shares during the period. Renaissance Technologies LLC increased its holdings in shares of UTStarcom Holdings Corp by 1.7% in the first quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock worth $1,625,000 after purchasing an additional 14,000 shares during the period. Spark Investment Management LLC increased its holdings in shares of UTStarcom Holdings Corp 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 purchasing an additional 26,200 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of UTStarcom Holdings Corp by 40.2% in the second quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock worth $177,000 after purchasing an additional 21,678 shares during the period. Finally, Virtu KCG Holdings LLC bought a new position in shares of UTStarcom Holdings Corp in the second quarter worth $141,000. 25.93% of the stock is currently owned by hedge funds and other institutional investors.

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UTSI has been the topic of several research analyst reports. Zacks Investment Research cut shares of UTStarcom Holdings Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 17th. ValuEngine raised shares of UTStarcom Holdings Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th.

UTStarcom Holdings Corp (UTSI) traded down 2.5957% on Wednesday, hitting $2.2403. 1,990 shares of the stock traded hands. The stock has a market cap of $79.28 million, a price-to-earnings ratio of 80.0107 and a beta of -0.34. The company’s 50 day moving average price is $2.11 and its 200-day moving average price is $2.08. UTStarcom Holdings Corp has a 52-week low of $1.60 and a 52-week high of $2.40.

UTStarcom Holdings Corp Company Profile

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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Institutional Ownership by Quarter for UTStarcom Holdings Corp (NASDAQ:UTSI)

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