Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $12.75

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) have been given an average rating of "Buy" by the five analysts that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $12.75.

Several equities analysts have recently commented on ADTN shares. Craig Hallum initiated coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 price target for the company. Rosenblatt Securities upped their target price on shares of ADTRAN from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Northland Securities lifted their price target on ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $11.00 target price on shares of ADTRAN in a research report on Thursday, January 16th.

ADTRAN Stock Performance

ADTN traded up $0.58 during trading on Friday, reaching $11.00. 2,302,136 shares of the company were exchanged, compared to its average volume of 1,176,368. ADTRAN has a 52 week low of $4.34 and a 52 week high of $11.23. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $9.27 and a 200 day moving average of $7.22. The stock has a market cap of $872.37 million, a P/E ratio of -1.69 and a beta of 1.29.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in ADTRAN by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider's stock valued at $1,472,000 after acquiring an additional 3,638 shares during the last quarter. Marshall Wace LLP boosted its holdings in ADTRAN by 3,656.1% during the second quarter. Marshall Wace LLP now owns 444,198 shares of the communications equipment provider's stock worth $2,336,000 after buying an additional 432,372 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of ADTRAN in the second quarter valued at $120,000. Millennium Management LLC increased its holdings in shares of ADTRAN by 8,824.3% in 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 buying an additional 1,532,257 shares in the last quarter. Finally, Creative Planning lifted its position in shares of ADTRAN by 155.2% during the 2nd quarter. Creative Planning now owns 55,166 shares of the communications equipment provider's stock valued at $290,000 after acquiring an additional 33,548 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

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.