ADTRAN (NASDAQ:ADTN) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ADTRAN (NASDAQ:ADTN - Free Report) in a report released on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the communications equipment provider's stock.

A number of other research firms have also recently commented on ADTN. Rosenblatt Securities lowered their price objective on shares of ADTRAN from $8.00 to $7.50 and set a neutral rating for the company in a research report on Wednesday, February 28th. StockNews.com raised ADTRAN to a sell rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $10.50.

ADTRAN Trading Up 0.4 %

NASDAQ:ADTN traded up $0.02 during mid-day trading on Wednesday, hitting $4.65. The company had a trading volume of 577,342 shares, compared to its average volume of 752,156. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. ADTRAN has a fifty-two week low of $4.61 and a fifty-two week high of $11.02. The firm has a market cap of $367.91 million, a P/E ratio of -1.45 and a beta of 1.13. The business's fifty day moving average is $5.72 and its two-hundred day moving average is $6.36.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($1.01). ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. The firm had revenue of $225.48 million during the quarter, compared to analyst estimates of $232.45 million. As a group, research analysts expect that ADTRAN will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADTN. Goldman Sachs Group Inc. lifted its holdings in shares of ADTRAN by 10.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,176 shares of the communications equipment provider's stock valued at $1,902,000 after purchasing an additional 24,905 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in ADTRAN in the 4th quarter valued at approximately $219,000. Price T Rowe Associates Inc. MD lifted its stake in ADTRAN by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 80,391 shares of the communications equipment provider's stock valued at $591,000 after acquiring an additional 18,431 shares in the last quarter. GSA Capital Partners LLP boosted its position in ADTRAN by 253.0% during the 4th quarter. GSA Capital Partners LLP now owns 105,356 shares of the communications equipment provider's stock worth $773,000 after acquiring an additional 75,510 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of ADTRAN by 6,481.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 85,620 shares of the communications equipment provider's stock worth $628,000 after acquiring an additional 84,319 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Company Profile

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.