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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has earned an average rating of “Hold” from the three research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $10.50.

Several brokerages have recently issued reports on ADTN. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research note on Wednesday. Northland Securities upgraded shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research report on Wednesday. StockNews.com raised ADTRAN to a “sell” rating in a research note on Wednesday, March 6th. Finally, Rosenblatt Securities reduced their target price on ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently made changes to their positions in ADTN. William Blair Investment Management LLC increased its holdings in ADTRAN by 57.2% during the 3rd quarter. William Blair Investment Management LLC now owns 2,405,839 shares of the communications equipment provider’s stock worth $19,800,000 after purchasing an additional 875,140 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of ADTRAN by 11.7% during the fourth quarter. First Eagle Investment Management LLC now owns 1,270,307 shares of the communications equipment provider’s stock worth $9,324,000 after buying an additional 133,500 shares in the last quarter. Federated Hermes Inc. acquired a new stake in ADTRAN in the 4th quarter valued at approximately $8,363,000. Charles Schwab Investment Management Inc. lifted its stake in ADTRAN by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,020,021 shares of the communications equipment provider’s stock valued at $7,487,000 after acquiring an additional 107,593 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its position in ADTRAN by 606.7% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 673,900 shares of the communications equipment provider’s stock worth $5,546,000 after acquiring an additional 578,543 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Price Performance

Shares of ADTN stock opened at $5.39 on Wednesday. The stock’s fifty day moving average is $5.22 and its 200-day moving average is $6.04. The stock has a market capitalization of $426.44 million, a PE ratio of -1.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. ADTRAN has a 52 week low of $4.34 and a 52 week high of $11.02.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.01). ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. The company had revenue of $225.48 million for the quarter, compared to the consensus estimate of $232.45 million. Equities research analysts expect that ADTRAN will post -0.25 EPS for the current fiscal year.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.