ADTRAN (NASDAQ:ADTN) Sets New 1-Year High – Should You Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $12.37 and last traded at $12.2810, with a volume of 250856 shares traded. The stock had previously closed at $12.07.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADTN. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of ADTRAN in a report on Thursday, February 26th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities increased their target price on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Argus raised ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Hold” and a consensus price target of $15.33.

ADTRAN Trading Up 3.5%

The stock has a market capitalization of $1.01 billion, a P/E ratio of -24.38 and a beta of 1.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16. The business’s 50 day simple moving average is $9.99 and its 200-day simple moving average is $9.28.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $291.56 million during the quarter, compared to analysts’ expectations of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The business’s revenue was up 20.0% compared to the same quarter last year. As a group, analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On ADTRAN

Several hedge funds have recently added to or reduced their stakes in ADTN. Hsbc Holdings PLC boosted its holdings in ADTRAN by 29.8% during the fourth quarter. Hsbc Holdings PLC now owns 78,464 shares of the communications equipment provider’s stock worth $686,000 after buying an additional 18,004 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of ADTRAN by 33.9% in the 4th quarter. Mackenzie Financial Corp now owns 361,607 shares of the communications equipment provider’s stock valued at $3,194,000 after acquiring an additional 91,457 shares during the period. XTX Topco Ltd raised its position in shares of ADTRAN by 11.8% in the 4th quarter. XTX Topco Ltd now owns 66,690 shares of the communications equipment provider’s stock valued at $580,000 after acquiring an additional 7,033 shares during the period. Voloridge Investment Management LLC boosted its stake in ADTRAN by 685.0% during the 4th quarter. Voloridge Investment Management LLC now owns 146,148 shares of the communications equipment provider’s stock worth $1,270,000 after acquiring an additional 127,530 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in ADTRAN by 5.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 947,508 shares of the communications equipment provider’s stock valued at $8,234,000 after purchasing an additional 50,393 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

About ADTRAN

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.