ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $12.00 Consensus Target Price from Brokerages

Key Points

• ADTRAN Holdings, Inc. has received an average rating of "Moderate Buy" from five brokerages, with four analysts recommending a buy and one a hold, alongside a 1-year price target of $12.00.
• Institutional investors are showing increased interest in ADTRAN, with notable increases in holdings from major firms such as American Century Companies Inc. and JPMorgan Chase & Co., indicating strong institutional support.
• ADTRAN recently reported quarterly earnings that surpassed expectations, showing a revenue increase of 9.5% year-over-year despite a negative net margin and return on equity.

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.00.

A number of research firms have recently commented on ADTN. Wolfe Research began coverage on shares of ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating for the company. Wall Street Zen upgraded shares of ADTRAN from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Needham & Company LLC cut their target price 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. Finally, Rosenblatt Securities cut their target price 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.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds have recently added to or reduced their stakes in ADTN. Quantinno Capital Management LP raised its position in shares of ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock valued at $176,000 after buying an additional 877 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after buying an additional 1,501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ADTRAN by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock worth $373,000 after purchasing an additional 1,605 shares during the period. Tudor Investment Corp ET AL raised its position in ADTRAN by 0.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider's stock worth $2,320,000 after purchasing an additional 1,670 shares during the period. Finally, Inspire Investing LLC raised its position in ADTRAN by 9.8% in the 2nd quarter. Inspire Investing LLC now owns 43,766 shares of the communications equipment provider's stock worth $393,000 after purchasing an additional 3,921 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN traded down $1.30 during mid-day trading on Friday, reaching $8.17. The company had a trading volume of 2,498,604 shares, compared to its average volume of 1,116,922. The company has a current ratio of 2.02, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a market cap of $653.42 million, a price-to-earnings ratio of -4.81 and a beta of 1.30. The company's 50-day moving average price is $8.77 and its 200-day moving average price is $8.98. ADTRAN has a one year low of $4.62 and a one year high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. During the same quarter in the previous year, the business posted $0.02 EPS. ADTRAN's revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that ADTRAN will post -0.5 EPS 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.