ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.6667.

Several equities analysts recently issued reports on ADTN shares. Craig Hallum set a $12.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 price objective (down from $23.00) on shares of ADTRAN in a report on Thursday, July 23rd. Evercore set a $11.00 price objective on shares of ADTRAN in a research report on Wednesday, August 5th. Finally, Rosenblatt Securities lowered their target price on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th.

Hedge Funds Weigh In On ADTRAN

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in ADTRAN during the second quarter worth approximately $108,923,000. DNB Asset Management AS grew its holdings in ADTRAN by 7.6% in the fourth quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock valued at $27,145,000 after purchasing an additional 219,810 shares during the period. Millennium Management LLC increased its position in shares of ADTRAN by 371.2% in the fourth 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 in the last quarter. Royce & Associates LP increased its position in shares of ADTRAN by 7.7% in the fourth quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock valued at $22,568,000 after buying an additional 186,238 shares in the last quarter. Finally, State Street Corp raised its stake in shares of ADTRAN by 4.5% during 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. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Up 0.9%

Shares of NASDAQ:ADTN opened at $7.63 on Tuesday. ADTRAN has a 12-month low of $7.11 and a 12-month high of $19.98. The company has a market capitalization of $621.69 million, a PE ratio of -27.25 and a beta of 1.47. The business has a 50 day moving average of $12.59 and a two-hundred day moving average of $12.72. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $281.15 million for the quarter, compared to analyst estimates of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that ADTRAN will post 0.23 EPS for the current 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.