Needham & Company LLC Reiterates “Buy” Rating for DZS (NASDAQ:DZSI)

DZS (NASDAQ:DZSI)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $9.00 price target on the communications equipment provider’s stock.

DZS Stock Down 7.8 %

DZSI stock opened at $1.07 on Wednesday. The company has a 50-day simple moving average of $1.37 and a 200 day simple moving average of $1.52. DZS has a fifty-two week low of $1.06 and a fifty-two week high of $7.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in DZS by 551.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the communications equipment provider’s stock worth $39,000 after purchasing an additional 2,893 shares during the period. UBS Group AG boosted its stake in DZS by 198.8% during the fourth quarter. UBS Group AG now owns 4,183 shares of the communications equipment provider’s stock valued at $53,000 after buying an additional 2,783 shares in the last quarter. Barclays PLC grew its holdings in DZS by 451.3% during the fourth quarter. Barclays PLC now owns 4,730 shares of the communications equipment provider’s stock worth $60,000 after acquiring an additional 3,872 shares during the period. Wells Fargo & Company MN grew its holdings in DZS by 113.9% during the second quarter. Wells Fargo & Company MN now owns 8,272 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 4,405 shares during the period. Finally, MetLife Investment Management LLC raised its position in DZS by 55.4% in the first quarter. MetLife Investment Management LLC now owns 9,474 shares of the communications equipment provider’s stock worth $131,000 after acquiring an additional 3,378 shares in the last quarter. 40.77% of the stock is currently owned by institutional investors.

DZS Company Profile

DZS Inc provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia. The company offers access edge solutions through DZS Velocity, including voice, high-definition and ultra-high-definition video, highspeed internet access, and business class services; switching and routing products; and XCelerate for increasing the velocity with which service providers can leap to multi-gigabit services.