ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $7.17 Consensus Target Price from Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.17.

A number of analysts have commented on the company. Northland Securities upgraded ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a research report on Wednesday, May 8th. Northland Capmk raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of ADTRAN in a report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th.

ADTRAN Trading Down 0.2 %

NASDAQ:ADTN opened at $5.42 on Friday. The firm has a market capitalization of $428.81 million, a price-to-earnings ratio of -0.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.46 and a quick ratio of 1.33. The business has a fifty day moving average price of $5.46 and a 200-day moving average price of $5.48. ADTRAN has a one year low of $4.34 and a one year high of $8.81.

Hedge Funds Weigh In On ADTRAN

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in ADTRAN by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock valued at $376,000 after acquiring an additional 2,396 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ADTRAN by 3.4% in 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 buying an additional 2,764 shares in the last quarter. Victory Capital Management Inc. boosted its stake in ADTRAN by 28.4% during the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after buying an additional 3,326 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in ADTRAN during the 4th quarter valued at approximately $27,000. Finally, Dimensional Fund Advisors LP grew its holdings in ADTRAN by 1.3% during 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 buying an additional 3,638 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.