Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $13.00

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.00.

A number of brokerages have recently commented on ADTN. Rosenblatt Securities reissued a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of ADTRAN in a research note on Tuesday, November 25th.

Insider Activity at ADTRAN

In other ADTRAN news, CEO Thomas R. Stanton acquired 40,928 shares of the stock in a transaction dated Monday, November 24th. The stock was purchased at an average cost of $7.33 per share, for a total transaction of $300,002.24. Following the acquisition, the chief executive officer owned 982,096 shares in the company, valued at $7,198,763.68. The trade was a 4.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nikos Theodosopoulos acquired 12,859 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average cost of $7.81 per share, with a total value of $100,428.79. Following the purchase, the director directly owned 52,154 shares in the company, valued at $407,322.74. This represents a 32.72% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 59,937 shares of company stock valued at $449,754. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of ADTRAN

Several hedge funds have recently added to or reduced their stakes in ADTN. Cape Investment Advisory Inc. purchased a new position in shares of ADTRAN in the second quarter worth about $27,000. State of Alaska Department of Revenue purchased a new position in ADTRAN in the 3rd quarter worth approximately $36,000. Quarry LP bought a new stake in ADTRAN in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new stake in ADTRAN in the fourth quarter valued at approximately $36,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 2,500 shares during the period. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Down 0.8%

Shares of NASDAQ ADTN opened at $9.88 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $9.25 and a 200-day moving average of $9.06. The firm has a market capitalization of $791.59 million, a price-to-earnings ratio of -9.23 and a beta of 1.39. ADTRAN has a 12 month low of $6.93 and a 12 month high of $12.44.

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.