ADTRAN (NASDAQ:ADTN) Issues Earnings Results

ADTRAN (NASDAQ:ADTN) issued its earnings results on Wednesday. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08, FiscalAI reports. ADTRAN had a negative net margin of 8.44% and a negative return on equity of 4.63%. The company had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year.

ADTRAN Stock Performance

ADTN traded down $0.77 on Thursday, hitting $9.93. The company had a trading volume of 1,624,447 shares, compared to its average volume of 1,198,516. The stock has a market cap of $795.15 million, a price-to-earnings ratio of -9.29 and a beta of 1.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.96 and a quick ratio of 1.23. The company’s fifty day moving average price is $9.41 and its 200 day moving average price is $9.10. ADTRAN has a 1-year low of $6.93 and a 1-year high of $12.44.

Insider Buying and Selling

In other news, CFO Timothy P. Santo purchased 6,150 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were bought at an average price of $8.02 per share, with a total value of $49,323.00. Following the completion of the transaction, the chief financial officer directly owned 26,594 shares in the company, valued at $213,283.88. This trade represents a 30.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Kestra Advisory Services LLC bought a new position in ADTRAN in the 4th quarter worth $36,000. Quarry LP acquired a new stake in shares of ADTRAN in the third quarter valued at about $36,000. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN in the fourth quarter worth about $47,000. Freestone Grove Partners LP acquired a new position in shares of ADTRAN during the 4th quarter worth about $87,000. Finally, Twinbeech Capital LP acquired a new position in shares of ADTRAN during the 4th quarter worth about $96,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADTN. Rosenblatt Securities reissued a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a research report on Thursday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of ADTRAN in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.00.

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.