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

ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Rating) has been assigned a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $29.33.

ADTN has been the subject of several analyst reports. Loop Capital upgraded ADTRAN from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $26.00 in a report on Monday, September 26th. StockNews.com cut ADTRAN from a “hold” rating to a “sell” rating in a report on Wednesday, November 16th.

ADTRAN Stock Performance

ADTN stock opened at $19.85 on Friday. The stock has a 50-day moving average price of $19.64 and a two-hundred day moving average price of $20.75. The stock has a market cap of $1.55 billion, a PE ratio of -31.02 and a beta of 1.34. ADTRAN has a 1 year low of $16.30 and a 1 year high of $25.47.

ADTRAN (NASDAQ:ADTN – Get Rating) last released its earnings results on Tuesday, November 8th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.17). The firm had revenue of $340.71 million for the quarter. ADTRAN had a positive return on equity of 3.11% and a negative net margin of 5.49%. On average, analysts forecast that ADTRAN will post 0.46 earnings per share for the current fiscal year.

ADTRAN Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd were paid a $0.09 dividend. The ex-dividend date was Monday, November 21st. This represents a $0.36 annualized dividend and a yield of 1.81%. ADTRAN’s dividend payout ratio (DPR) is currently -56.25%.

Institutional Investors Weigh In On ADTRAN

Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in ADTRAN by 532.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 92,238 shares of the communications equipment provider’s stock valued at $1,733,000 after purchasing an additional 77,647 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in ADTRAN by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,005,536 shares of the communications equipment provider’s stock valued at $58,847,000 after purchasing an additional 59,009 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in ADTRAN during the third quarter worth approximately $176,000. Teachers Retirement System of The State of Kentucky acquired a new stake in ADTRAN during the third quarter worth approximately $290,000. Finally, California State Teachers Retirement System lifted its position in ADTRAN by 55.8% during the third quarter. California State Teachers Retirement System now owns 90,818 shares of the communications equipment provider’s stock worth $1,778,000 after acquiring an additional 32,508 shares during the last quarter. 85.14% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

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ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.