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

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.00.

ADTN has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Rosenblatt Securities increased their price target on shares of ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of ADTRAN in a research report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Finally, Argus raised shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th.

Hedge Funds Weigh In On ADTRAN

Several hedge funds have recently modified their holdings of ADTN. Millennium Management LLC increased its holdings in shares of ADTRAN by 371.2% during the fourth 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 in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of ADTRAN during the third quarter valued at about $10,168,000. Paradigm Capital Management Inc. NY increased its holdings in shares of ADTRAN by 527.7% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,129,909 shares of the communications equipment provider’s stock valued at $9,819,000 after acquiring an additional 949,909 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of ADTRAN by 5,809.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after acquiring an additional 773,509 shares in the last quarter. Finally, Heartland Advisors Inc. acquired a new position in shares of ADTRAN during the first quarter valued at about $9,435,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Performance

ADTN stock opened at $13.52 on Monday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -34.67 and a beta of 1.42. The firm has a 50-day simple moving average of $15.85 and a two-hundred day simple moving average of $12.26. ADTRAN has a one year low of $7.11 and a one year high of $19.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $286.09 million during 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. On average, equities analysts forecast that ADTRAN will post 0.43 EPS for the current fiscal 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.