ADTRAN, Inc. (ADTN) Price Target Cut to $24.00 by Analysts at Needham & Company LLC
ADTRAN, Inc. (NASDAQ:ADTN) had its price target lowered by equities researchers at Needham & Company LLC from $25.00 to $24.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 21.21% from the stock’s previous close.
Several other analysts have also recently weighed in on the stock. MKM Partners reissued a “buy” rating and issued a $27.50 price objective (up previously from $24.00) on shares of ADTRAN in a research note on Tuesday, January 24th. Jefferies Group LLC boosted their price objective on shares of ADTRAN from $17.50 to $20.50 and gave the stock a “hold” rating in a research note on Thursday, January 19th. Finally, Zacks Investment Research cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $23.60.
Shares of ADTRAN (NASDAQ:ADTN) opened at 19.80 on Thursday. ADTRAN has a 52-week low of $17.06 and a 52-week high of $23.75. The company’s 50-day moving average price is $20.75 and its 200-day moving average price is $20.85. The company has a market capitalization of $960.68 million, a price-to-earnings ratio of 27.50 and a beta of 0.60.
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ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, January 17th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The firm had revenue of $162.99 million for the quarter, compared to analysts’ expectations of $152.03 million. ADTRAN had a net margin of 5.53% and a return on equity of 7.57%. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Equities research analysts forecast that ADTRAN will post $0.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Thursday, May 4th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, May 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. ADTRAN’s dividend payout ratio is 49.32%.
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Several hedge funds have recently modified their holdings of ADTN. Louisiana State Employees Retirement System boosted its stake in shares of ADTRAN by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the communications equipment provider’s stock valued at $411,000 after buying an additional 300 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of ADTRAN by 31.5% in the first quarter. Fox Run Management L.L.C. now owns 26,700 shares of the communications equipment provider’s stock valued at $554,000 after buying an additional 6,400 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of ADTRAN by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 85,426 shares of the communications equipment provider’s stock valued at $1,909,000 after buying an additional 4,602 shares in the last quarter. Norges Bank acquired a new stake in shares of ADTRAN during the fourth quarter valued at $8,783,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of ADTRAN by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,970 shares of the communications equipment provider’s stock valued at $580,000 after buying an additional 1,370 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.
ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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