Brokerages Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $12.00

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.00.

Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of ADTRAN in a research report on Monday. They issued a "peer perform" rating for the company. Rosenblatt Securities dropped their price objective on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of ADTRAN from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Needham & Company LLC dropped their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

Institutional Trading of ADTRAN

A number of large investors have recently made changes to their positions in ADTN. Aquatic Capital Management LLC increased its position in shares of ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 6,290 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of ADTRAN in the 1st quarter valued at $65,000. Ballentine Partners LLC bought a new stake in shares of ADTRAN in the 1st quarter valued at $94,000. Financial Engines Advisors L.L.C. bought a new stake in shares of ADTRAN in the 1st quarter valued at $106,000. Finally, SIH Partners LLLP bought a new stake in shares of ADTRAN in the 4th quarter valued at $107,000. Institutional investors own 80.56% of the company's stock.

ADTRAN Price Performance

Shares of ADTN traded down $0.03 on Monday, hitting $9.41. The company's stock had a trading volume of 771,583 shares, compared to its average volume of 851,327. The company has a market capitalization of $752.61 million, a PE ratio of -5.54 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. ADTRAN has a fifty-two week low of $4.62 and a fifty-two week high of $12.44. The company has a 50 day moving average price of $8.29 and a 200 day moving average price of $8.98.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. On average, research analysts anticipate that ADTRAN will post -0.5 earnings per share for the current fiscal 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.