ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• ADTRAN Holdings has a consensus analyst rating of “Moderate Buy” from six covering analysts, with an average 12-month price target of $18.00.
• Recent analyst updates were mostly positive, including Rosenblatt raising its target to $20 and reiterating a buy rating, while Needham, Northland, and Evercore also maintained upbeat views.
• The company recently reported better-than-expected quarterly results, earning $0.14 per share versus $0.09 expected and revenue of $286.09 million, though the stock was still down 1.4% in Friday trading.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.00.

Several equities research analysts recently weighed in on ADTN shares. Rosenblatt Securities boosted their target price on ADTRAN from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price target on shares of ADTRAN in a research report on Wednesday, May 6th. Northland Securities set a $18.00 price objective on shares of ADTRAN in a research note on Wednesday, May 6th. Evercore assumed coverage on shares of ADTRAN in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, Wall Street Zen downgraded shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th.

Institutional Investors Weigh In On ADTRAN

Hedge funds and other institutional investors have recently made changes to their positions in the business. DNB Asset Management AS lifted its position in shares of ADTRAN by 7.6% during the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider's stock worth $27,145,000 after purchasing an additional 219,810 shares during the last quarter. Millennium Management LLC grew its holdings in ADTRAN by 371.2% in the 4th 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 during the last quarter. Royce & Associates LP increased its position in ADTRAN by 7.7% in the 4th quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider's stock worth $22,568,000 after buying an additional 186,238 shares during the period. State Street Corp increased its position in ADTRAN by 4.5% in the 4th quarter. State Street Corp now owns 1,985,890 shares of the communications equipment provider's stock worth $17,257,000 after buying an additional 86,382 shares during the period. Finally, Needham Investment Management LLC lifted its holdings in shares of ADTRAN by 23.2% during the fourth quarter. Needham Investment Management LLC now owns 1,447,500 shares of the communications equipment provider's stock worth $12,579,000 after buying an additional 272,500 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Stock Down 1.4%

ADTN stock opened at $11.71 on Friday. The firm has a market cap of $948.51 million, a PE ratio of -30.03 and a beta of 1.44. ADTRAN has a 1 year low of $7.11 and a 1 year high of $19.98. The company has a fifty day simple moving average of $14.81 and a 200 day simple moving average of $12.67. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The business's revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Sell-side analysts anticipate that ADTRAN will post 0.43 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.