ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $7.67 Consensus Target Price from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.67.

A number of equities research analysts have recently commented on ADTN shares. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Northland Capmk upgraded ADTRAN from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Northland Securities upgraded ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a report on Monday, May 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ADTN. Federated Hermes Inc. bought a new position in ADTRAN in the fourth quarter valued at approximately $8,363,000. William Blair Investment Management LLC grew its stake in ADTRAN by 22.5% in the first quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock valued at $24,241,000 after purchasing an additional 817,762 shares in the last quarter. Kovack Advisors Inc. grew its stake in ADTRAN by 157.9% in the fourth quarter. Kovack Advisors Inc. now owns 432,750 shares of the communications equipment provider’s stock valued at $3,176,000 after purchasing an additional 264,950 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of ADTRAN by 25.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock valued at $6,446,000 after buying an additional 237,739 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of ADTRAN by 11.7% in the fourth quarter. First Eagle Investment Management LLC now owns 1,270,307 shares of the communications equipment provider’s stock valued at $9,324,000 after buying an additional 133,500 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Trading Down 0.2 %

NASDAQ:ADTN opened at $5.12 on Thursday. ADTRAN has a 1-year low of $4.34 and a 1-year high of $10.96. The business’s 50-day moving average price is $5.16 and its two-hundred day moving average price is $5.83. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $405.08 million, a price-to-earnings ratio of -0.74 and a beta of 1.21.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative return on equity of 18.98% and a negative net margin of 51.42%. The firm had revenue of $226.17 million for the quarter, compared to analyst estimates of $223.00 million. On average, equities analysts expect that ADTRAN will post -0.23 earnings per share for the current 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.