Brokerages Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $10.33

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) have received an average recommendation of "Buy" from the five research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $11.50.

A number of equities analysts have weighed in on ADTN shares. StockNews.com upgraded shares of ADTRAN from a "sell" rating to a "hold" rating in a research report on Wednesday, October 2nd. Needham & Company LLC raised their price objective on shares of ADTRAN from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Northland Securities boosted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Rosenblatt Securities raised ADTRAN from a "neutral" rating to a "buy" rating and raised their price target for the stock from $6.00 to $10.00 in a report on Friday, November 8th. Finally, Craig Hallum assumed coverage on ADTRAN in a research note on Wednesday. They set a "buy" rating and a $15.00 price objective on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Divisar Capital Management LLC grew its position in ADTRAN by 25.0% during the second quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider's stock worth $30,195,000 after buying an additional 1,146,774 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of ADTRAN by 173.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider's stock worth $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ADTRAN by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider's stock worth $10,736,000 after purchasing an additional 63,960 shares during the last quarter. State Street Corp raised its stake in ADTRAN by 2.8% in the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock valued at $10,484,000 after purchasing an additional 48,542 shares in the last quarter. Finally, Millennium Management LLC lifted its position in ADTRAN by 8,824.3% during the second quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider's stock valued at $8,151,000 after purchasing an additional 1,532,257 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

ADTRAN Stock Performance

Shares of ADTN stock traded up $0.85 on Wednesday, hitting $10.49. 1,892,066 shares of the stock were exchanged, compared to its average volume of 1,214,272. The firm's 50 day moving average is $8.23 and its two-hundred day moving average is $6.55. ADTRAN has a one year low of $4.34 and a one year high of $10.71. The firm has a market capitalization of $831.92 million, a PE ratio of -1.61 and a beta of 1.28. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.

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.