ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $12.75 Average Price Target from Brokerages

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

Several analysts have weighed in on ADTN shares. Needham & Company LLC boosted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Northland Securities boosted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Craig Hallum initiated coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of ADTRAN in a report on Friday, February 28th.

ADTRAN Stock Down 0.4 %

ADTN stock opened at $10.59 on Thursday. 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 1-year low of $4.34 and a 1-year high of $12.44. The firm has a fifty day moving average price of $10.26 and a two-hundred day moving average price of $7.96. The firm has a market cap of $839.85 million, a price-to-earnings ratio of -1.63 and a beta of 1.29.

Hedge Funds Weigh In On ADTRAN

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in shares of ADTRAN by 4.3% during the fourth quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 877 shares during the period. Catalyst Funds Management Pty Ltd lifted its holdings in ADTRAN by 6.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after purchasing an additional 1,300 shares during the period. Hsbc Holdings PLC lifted its holdings in ADTRAN by 11.4% in the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after purchasing an additional 1,501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ADTRAN by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock worth $373,000 after purchasing an additional 1,605 shares during the period. Finally, Tudor Investment Corp ET AL lifted its holdings in ADTRAN by 0.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider’s stock worth $2,320,000 after purchasing an additional 1,670 shares during the period. Institutional investors and hedge funds 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.