ADTRAN (NASDAQ:ADTN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

ADTRAN (NASDAQ:ADTN - Free Report) had its target price lifted by Needham & Company LLC from $11.00 to $14.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the communications equipment provider's stock.

A number of other brokerages also recently issued reports on ADTN. Craig Hallum began coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price target on the stock. Northland Securities raised their target price on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities boosted their price target on ADTRAN from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ADTRAN currently has a consensus rating of "Buy" and a consensus price target of $13.50.

ADTRAN Trading Up 0.7 %

Shares of ADTRAN stock traded up $0.07 during trading on Friday, hitting $10.63. The company's stock had a trading volume of 1,815,984 shares, compared to its average volume of 858,426. The stock has a market cap of $843.02 million, a price-to-earnings ratio of -1.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN has a 52 week low of $4.34 and a 52 week high of $12.44. The stock has a 50-day moving average price of $10.21 and a two-hundred day moving average price of $7.92.

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Hedge Funds Weigh In On ADTRAN

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of ADTRAN by 798.7% during the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider's stock valued at $28,000 after buying an additional 4,177 shares during the last quarter. Aquatic Capital Management LLC grew its stake in shares of ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after acquiring an additional 6,290 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of ADTRAN in the 3rd quarter worth $92,000. SIH Partners LLLP bought a new position in shares of ADTRAN during the fourth quarter valued at about $107,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider's stock worth $112,000 after purchasing an additional 9,202 shares during the last quarter. Institutional investors 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.