Brokerages Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $15.33

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.3333.

A number of brokerages recently weighed in on ADTN. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Rosenblatt Securities increased their price objective on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of ADTRAN in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 8th.

Hedge Funds Weigh In On ADTRAN

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in 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 buying an additional 2,122,844 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of ADTRAN in the third quarter worth approximately $10,168,000. Paradigm Capital Management Inc. NY increased its position in shares of ADTRAN by 527.7% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,129,909 shares of the communications equipment provider’s stock worth $9,819,000 after acquiring an additional 949,909 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of ADTRAN during the second quarter valued at approximately $7,601,000. Finally, Assenagon Asset Management S.A. raised its holdings 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 acquiring an additional 814,864 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

Shares of ADTRAN stock opened at $10.33 on Friday. ADTRAN has a 52 week low of $6.93 and a 52 week high of $11.10. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 1.50. The stock has a market cap of $833.22 million, a PE ratio of -20.25 and a beta of 1.37. The company’s 50-day moving average price is $9.73 and its two-hundred day moving average price is $9.20.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The company had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ADTRAN will post -0.5 EPS for the current fiscal year.

ADTRAN Company Profile

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.