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

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.50.

ADTN has been the topic of a number of recent analyst reports. B. Riley started coverage on shares of ADTRAN in a research report on Thursday, September 18th. They set a “buy” rating and a $16.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $11.00 target price on shares of ADTRAN in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ADTRAN in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of ADTRAN in a research note on Tuesday, November 25th.

Insiders Place Their Bets

In other ADTRAN news, CEO Thomas R. Stanton bought 40,928 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $7.33 per share, for a total transaction of $300,002.24. Following the acquisition, the chief executive officer directly owned 982,096 shares of the company’s stock, valued at $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 SEC, which is available through this link. Also, Director Nikos Theodosopoulos bought 12,859 shares of ADTRAN stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired 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 directly owned 52,154 shares of the company’s stock, valued at $407,322.74. This represents a 32.72% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 59,937 shares of company stock worth $449,754. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of ADTRAN by 257.3% during the first quarter. Russell Investments Group Ltd. now owns 75,162 shares of the communications equipment provider’s stock valued at $655,000 after purchasing an additional 54,125 shares during the last quarter. American Century Companies Inc. raised its holdings in ADTRAN by 17.1% during the 1st quarter. American Century Companies Inc. now owns 201,491 shares of the communications equipment provider’s stock worth $1,757,000 after buying an additional 29,391 shares during the period. Raymond James Financial Inc. lifted its stake in ADTRAN by 47.9% during the first quarter. Raymond James Financial Inc. now owns 380,898 shares of the communications equipment provider’s stock valued at $3,321,000 after buying an additional 123,307 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of ADTRAN by 160.1% in the first quarter. Hsbc Holdings PLC now owns 38,181 shares of the communications equipment provider’s stock worth $329,000 after buying an additional 23,500 shares during the period. Finally, Ieq Capital LLC acquired a new stake in shares of ADTRAN during the first quarter valued at approximately $209,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Down 0.7%

Shares of ADTRAN stock opened at $8.75 on Monday. ADTRAN has a 1-year low of $6.93 and a 1-year high of $12.44. The company has a market capitalization of $701.05 million, a P/E ratio of -8.18 and a beta of 1.39. The business’s fifty day moving average price is $8.57 and its two-hundred day moving average price is $8.93. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.96 and a quick ratio of 1.23.

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