ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Rating of “Buy” from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has earned a consensus rating of “Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $13.50.

Several equities analysts recently commented on ADTN shares. Craig Hallum started coverage on shares of ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC raised their price objective on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of ADTRAN in a research note on Friday. Finally, Northland Securities raised their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Geode Capital Management LLC increased its stake in shares of ADTRAN by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after buying an additional 63,960 shares during the period. Assenagon Asset Management S.A. increased its position in ADTRAN by 39.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after purchasing an additional 263,156 shares during the period. Barclays PLC raised its holdings in ADTRAN by 11.4% in the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after purchasing an additional 11,880 shares in the last quarter. State Street Corp lifted its position in shares of ADTRAN by 2.8% in the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after purchasing an additional 48,542 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of ADTRAN by 99.3% during the 3rd quarter. GSA Capital Partners LLP now owns 491,414 shares of the communications equipment provider’s stock valued at $2,914,000 after purchasing an additional 244,901 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Down 0.1 %

Shares of ADTN opened at $10.56 on Thursday. ADTRAN has a 1 year low of $4.34 and a 1 year high of $12.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The stock has a 50 day simple moving average of $10.21 and a two-hundred day simple moving average of $7.92. The firm has a market cap of $837.47 million, a P/E ratio of -1.62 and a beta of 1.29.

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.