ADTRAN (NASDAQ:ADTN) Reaches New 52-Week High - Should You Buy?

Key Points

• 52-week high: ADTRAN shares traded as high as $13.17 and last at $13.01 on volume ~181,579, giving the company a market cap of about $1.05 billion.
• Analyst views are mixed—three Buys, two Holds and one Sell—resulting in a MarketBeat consensus rating of Hold and an average price target of $15.33 (rough range $11–$16).
• Earnings beat: ADTRAN reported Q results of $0.16 EPS vs. $0.08 expected and revenue of $291.6M (+20% YoY) vs. $281.1M est., although the company still has a negative net margin and a negative P/E (-25.61).

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $13.17 and last traded at $13.0080, with a volume of 181579 shares changing hands. The stock had previously closed at $12.88.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADTN shares. Wall Street Zen cut shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Argus upgraded shares of ADTRAN to a "hold" rating in a research note on Wednesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price objective on shares of ADTRAN in a report on Thursday, February 26th. Rosenblatt Securities raised their target price on ADTRAN from $11.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ADTRAN in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.33.

ADTRAN Trading Up 1.3%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The stock has a market cap of $1.05 billion, a P/E ratio of -25.61 and a beta of 1.23. The company has a 50-day simple moving average of $10.61 and a 200-day simple moving average of $9.45.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.08. The company had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The firm's revenue for the quarter was up 20.0% on a year-over-year basis. On average, sell-side analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Large investors have recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new position in ADTRAN during the 3rd quarter worth $2,443,000. Dynamic Technology Lab Private Ltd increased its stake in shares of ADTRAN by 106.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider's stock valued at $1,092,000 after buying an additional 60,070 shares during the period. Granahan Investment Management LLC increased its stake in shares of ADTRAN by 190.8% in the 3rd quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider's stock valued at $5,464,000 after buying an additional 382,170 shares during the period. JPMorgan Chase & Co. raised its position in shares of ADTRAN by 78.2% during the third quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider's stock worth $7,629,000 after acquiring an additional 356,884 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of ADTRAN by 434.2% during the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider's stock valued at $8,415,000 after acquiring an additional 729,194 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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