In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), UTStarcom Holdings Corp. (NASDAQ:UTSI) reported that Shanghai Phicomm Communication Co., Ltd. has picked up 5,000,000 of common stock as of 2017-06-19.
The acquisition brings the aggregate amount owned by Shanghai Phicomm Communication Co., Ltd. to a total of 5,000,000 representing a 14.1% stake in the company.
For those not familiar with the company, 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. The broadband product lines include family of packet transport network (PTN) products based on multi-protocol label switch transport profile (MPLS-TP) and carrier Ethernet (CE) technologies enhanced through in-house software-defined networking (SDN) platform to support the network evolution, and multi services access network (MSAN) platform. Wireless broadband access is represented by end-to-end Carrier Wi-Fi solution.
A glance at UTStarcom Holdings Corp. (NASDAQ:UTSI)’s key stats reveals a current market capitalization of $82.10 Million based on $36.74 Million shares outstanding and a price at last close of $2.29 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-03-25, Shah picked up 34,919 at a purchase price of $2.56. This brings their total holding to 346,391 as of the date of the filing.
On the sell side, the most recent transaction saw Softbank unload 4,883,875 shares at a sale price of $2.54. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an UTStarcom Holdings Corp. (NASDAQ:UTSI) as things move forward to see if its progress aligns with these transactions.
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