Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $13.50

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.50.

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ADTRAN in a research report on Wednesday, October 8th. B. Riley started coverage on shares of ADTRAN in a research note on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of ADTRAN in a research note on Tuesday, November 25th.

Insider Activity

In other ADTRAN news, CEO Thomas R. Stanton purchased 40,928 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average cost of $7.33 per share, with a total value of $300,002.24. Following the acquisition, the chief executive officer owned 982,096 shares in the company, valued at approximately $7,198,763.68. This trade represents a 4.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy P. Santo purchased 6,150 shares of the company’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $8.02 per share, with a total value of $49,323.00. Following the completion of the purchase, the chief financial officer directly owned 26,594 shares in the company, valued at $213,283.88. This trade represents a 30.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 59,937 shares of company stock worth $449,754 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new position in ADTRAN during the third quarter valued at $10,168,000. SG Capital Management LLC bought a new position in shares of ADTRAN during the 2nd quarter valued at about $7,601,000. Assenagon Asset Management S.A. grew its position in shares of ADTRAN by 691.6% during the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock valued at $8,749,000 after purchasing an additional 814,864 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position 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 purchasing an additional 773,509 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of ADTRAN by 434.2% in the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock worth $8,415,000 after purchasing an additional 729,194 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Down 0.1%

Shares of ADTN stock opened at $8.68 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.96 and a quick ratio of 1.23. The company has a market cap of $695.44 million, a price-to-earnings ratio of -8.11 and a beta of 1.35. ADTRAN has a 1 year low of $6.93 and a 1 year high of $12.44. The firm has a fifty day moving average price of $8.49 and a 200-day moving average price of $8.97.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share (EPS) for the quarter. The business had revenue of $358.27 million during the quarter. ADTRAN had a negative return on equity of 4.63% and a negative net margin of 8.44%. As a group, equities analysts predict that ADTRAN will post -0.5 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.