ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Recommendation of “Hold” by Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has earned an average rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.00.

A number of research analysts have weighed in on ADTN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ADTRAN in a research report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $11.00 target price on shares of ADTRAN in a report on Wednesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of ADTRAN in a report on Tuesday, November 25th.

ADTRAN Trading Down 2.4%

Shares of ADTN opened at $9.37 on Friday. ADTRAN has a twelve month low of $6.93 and a twelve month high of $12.44. The firm has a market capitalization of $750.72 million, a P/E ratio of -8.76 and a beta of 1.35. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The stock’s fifty day simple moving average is $8.74 and its 200 day simple moving average is $9.00.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, November 4th. The communications equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $279.44 million for the quarter, compared to analyst estimates of $274.60 million. ADTRAN had a negative return on equity of 4.63% and a negative net margin of 8.44%.The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities research analysts forecast that ADTRAN will post -0.5 earnings per share for the current year.

Insider Activity at ADTRAN

In related news, Director Nikos Theodosopoulos purchased 12,859 shares of ADTRAN stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $7.81 per share, with a total value of $100,428.79. Following the transaction, the director owned 52,154 shares of the company’s stock, valued at approximately $407,322.74. The trade was a 32.72% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy P. Santo purchased 6,150 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was bought at an average price of $8.02 per share, with a total value of $49,323.00. Following the acquisition, the chief financial officer owned 26,594 shares in the company, valued at $213,283.88. This trade represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 59,937 shares of company stock worth $449,754. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ADTRAN

A number of institutional investors have recently added to or reduced their stakes in ADTN. Vanguard Group Inc. grew its stake in shares of ADTRAN by 2.7% during the third quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock valued at $78,635,000 after acquiring an additional 217,148 shares in the last quarter. DNB Asset Management AS grew its stake in ADTRAN by 6.4% during the 3rd quarter. DNB Asset Management AS now owns 2,903,869 shares of the communications equipment provider’s stock valued at $27,238,000 after purchasing an additional 174,354 shares in the last quarter. Royce & Associates LP increased its holdings in ADTRAN by 14.7% during the 3rd quarter. Royce & Associates LP now owns 2,410,775 shares of the communications equipment provider’s stock worth $22,613,000 after purchasing an additional 308,705 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of ADTRAN by 6.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,209,207 shares of the communications equipment provider’s stock valued at $11,342,000 after purchasing an additional 75,600 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of ADTRAN by 21.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,129,047 shares of the communications equipment provider’s stock valued at $9,811,000 after buying an additional 196,367 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.