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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.3333.

Several equities analysts have recently issued reports on ADTN shares. Wall Street Zen raised ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 8th. Argus raised ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Rosenblatt Securities upped their price objective on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of ADTRAN in a research report on Thursday, February 26th.

ADTRAN Trading Down 0.7%

Shares of ADTN stock opened at $9.94 on Friday. ADTRAN has a 52-week low of $6.93 and a 52-week high of $11.10. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The company has a 50-day simple moving average of $9.70 and a two-hundred day simple moving average of $9.20. The company has a market capitalization of $801.76 million, a price-to-earnings ratio of -19.49 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The firm had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts anticipate that ADTRAN will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in ADTRAN by 2.7% during the third quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock worth $78,635,000 after buying an additional 217,148 shares during the last quarter. DNB Asset Management AS boosted its stake in ADTRAN by 7.6% in the fourth quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock valued at $27,145,000 after acquiring an additional 219,810 shares during the last quarter. Millennium Management LLC grew its position in shares of 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 acquiring an additional 2,122,844 shares during the period. Royce & Associates LP grew its position in shares of ADTRAN by 7.7% during the 4th quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock valued at $22,568,000 after acquiring an additional 186,238 shares during the period. Finally, State Street Corp increased its stake in shares of ADTRAN by 4.5% during 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 during the last quarter. Institutional investors own 80.56% of the company’s stock.

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.