ADTRAN (NASDAQ:ADTN) Given New $15.00 Price Target at Rosenblatt Securities

ADTRAN (NASDAQ:ADTN) had its target price hoisted by Rosenblatt Securities from $10.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the communications equipment provider’s stock.

Several other brokerages have also recently weighed in on ADTN. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a research note on Thursday, January 16th. Northland Securities increased 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. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Craig Hallum assumed coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Buy” and a consensus target price of $12.75.

ADTRAN Price Performance

ADTN stock opened at $10.48 on Wednesday. The company has a fifty day simple moving average of $8.85 and a two-hundred day simple moving average of $6.91. ADTRAN has a 52 week low of $4.34 and a 52 week high of $11.23. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $831.17 million, a P/E ratio of -1.61 and a beta of 1.28.

Institutional Trading of ADTRAN

Institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in ADTRAN by 17.9% during the 2nd quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock valued at $475,000 after buying an additional 13,688 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ADTRAN by 1.3% during 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 acquiring an additional 3,638 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of ADTRAN by 26.4% in the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after purchasing an additional 142,100 shares during the period. Hsbc Holdings PLC grew its stake in ADTRAN by 327.5% in the second quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 40,653 shares in the last quarter. Finally, XTX Topco Ltd raised its position in ADTRAN by 309.2% during the 2nd quarter. XTX Topco Ltd now owns 87,879 shares of the communications equipment provider’s stock valued at $462,000 after purchasing an additional 66,401 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.