ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) reached a new 52-week high on Friday after Needham & Company LLC raised their price target on the stock from $8.00 to $11.00. Needham & Company LLC currently has a buy rating on the stock. ADTRAN traded as high as $8.00 and last traded at $8.00, with a volume of 42924 shares. The stock had previously closed at $7.55.
Several other equities analysts also recently weighed in on the company. StockNews.com raised ADTRAN from a "sell" rating to a "hold" rating in a research report on Wednesday, October 2nd. Rosenblatt Securities upgraded shares of ADTRAN from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $6.00 to $10.00 in a report on Friday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.50.
Check Out Our Latest Report on ADTN
Institutional Trading of ADTRAN
A number of large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in ADTRAN by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider's stock worth $376,000 after acquiring an additional 2,396 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider's stock worth $453,000 after purchasing an additional 2,764 shares in the last quarter. Inspire Investing LLC increased its holdings in ADTRAN by 5.1% in the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider's stock valued at $413,000 after buying an additional 3,387 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider's stock valued at $1,472,000 after buying an additional 3,638 shares in the last quarter. Finally, PEAK6 Investments LLC lifted its holdings in ADTRAN by 28.5% during the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider's stock worth $96,000 after buying an additional 3,911 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
ADTRAN Price Performance
The company has a market capitalization of $640.19 million, a PE ratio of -1.24 and a beta of 1.20. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock has a fifty day simple moving average of $5.87 and a 200-day simple moving average of $5.53.
ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.14). ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. The business had revenue of $225.99 million during the quarter, compared to analyst estimates of $225.95 million. Equities analysts anticipate that ADTRAN Holdings, Inc. will post -0.41 earnings per share for the current year.
ADTRAN Company Profile
(
Get Free Report)
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.
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