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

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.00.

ADTN has been the topic of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $11.00 target price on shares of ADTRAN in a research report on Thursday, February 19th. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of ADTRAN in a report on Tuesday, November 25th.

Insider Transactions at ADTRAN

In related news, CFO Timothy P. Santo bought 6,150 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were acquired at an average cost of $8.02 per share, with a total value of $49,323.00. Following the completion of the transaction, the chief financial officer owned 26,594 shares of the company’s stock, valued at approximately $213,283.88. The trade was a 30.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nikos Theodosopoulos bought 12,859 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $7.81 per share, with a total value of $100,428.79. Following the completion of the acquisition, the director owned 52,154 shares of the company’s stock, valued at $407,322.74. This trade represents a 32.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new stake in shares of ADTRAN during the 2nd quarter worth $27,000. Quarry LP acquired a new position in ADTRAN in the third quarter valued at $36,000. State of Alaska Department of Revenue purchased a new stake in ADTRAN during the third quarter valued at about $36,000. Kestra Advisory Services LLC acquired a new stake in ADTRAN during the fourth quarter worth about $36,000. Finally, ST Germain D J Co. Inc. increased its stake in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Price Performance

NASDAQ:ADTN opened at $10.22 on Tuesday. ADTRAN has a 12-month low of $6.93 and a 12-month high of $12.44. The firm has a market cap of $818.83 million, a price-to-earnings ratio of -9.55 and a beta of 1.39. The company’s 50-day moving average is $9.33 and its two-hundred day moving average is $9.08. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54.

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.