ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Rating of “Hold” from Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.00.

A number of research firms recently weighed in on ADTN. Northland Securities set a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Rosenblatt Securities boosted their price target on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Argus raised shares of ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a research note on Wednesday, May 6th.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors have recently made changes to their positions in ADTN. Vanguard Group Inc. boosted its position in ADTRAN by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock valued at $78,635,000 after buying an additional 217,148 shares during the period. DNB Asset Management AS boosted its position in ADTRAN by 7.6% during the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock valued at $27,145,000 after buying an additional 219,810 shares during the period. Millennium Management LLC boosted its position in ADTRAN by 371.2% during the 4th quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock valued at $23,418,000 after buying an additional 2,122,844 shares during the period. Royce & Associates LP raised its holdings in ADTRAN by 7.7% in the 4th quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock worth $22,568,000 after purchasing an additional 186,238 shares in the last quarter. Finally, State Street Corp raised its holdings in ADTRAN by 4.5% in the 4th quarter. State Street Corp now owns 1,985,890 shares of the communications equipment provider’s stock worth $17,257,000 after purchasing an additional 86,382 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

NASDAQ ADTN opened at $15.18 on Monday. The company’s 50 day moving average is $15.94 and its 200-day moving average is $12.05. ADTRAN has a 12-month low of $7.11 and a 12-month high of $19.98. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The firm has a market cap of $1.23 billion, a P/E ratio of -38.92 and a beta of 1.42.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Sell-side analysts predict that ADTRAN will post 0.43 earnings per share for the current year.

About ADTRAN

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.