Traders Purchase Large Volume of ADTRAN Call Options (NASDAQ:ADTN)

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of unusually large options trading on Tuesday. Traders purchased 8,149 call options on the company. This represents an increase of 446% compared to the average volume of 1,493 call options.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADTN. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Rosenblatt Securities upped their price objective on shares of ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Northland Securities set a $18.00 price objective on shares of ADTRAN in a research report on Wednesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ADTRAN presently has a consensus rating of “Hold” and an average price target of $18.00.

ADTRAN Stock Down 6.2%

NASDAQ ADTN traded down $0.96 during trading hours on Tuesday, hitting $14.62. The company’s stock had a trading volume of 635,522 shares, compared to its average volume of 2,030,628. The company has a market capitalization of $1.18 billion, a PE ratio of -37.47 and a beta of 1.42. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. ADTRAN has a 52 week low of $7.11 and a 52 week high of $19.98. The company’s 50-day simple moving average is $15.95 and its two-hundred day simple moving average is $12.11.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The firm had revenue of $286.09 million during the quarter, compared to analyst estimates of $285.48 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts anticipate that ADTRAN will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in shares of ADTRAN by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock worth $693,000 after acquiring an additional 1,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 1,946 shares in the last quarter. Occudo Quantitative Strategies LP lifted its position in shares of ADTRAN by 3.2% during the third quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock valued at $616,000 after purchasing an additional 2,016 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ADTRAN by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock worth $1,632,000 after purchasing an additional 2,068 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 2,500 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.