ADTRAN, Inc. (NASDAQ:ADTN) had its price objective boosted by stock analysts at Needham & Company LLC from $24.00 to $25.00 in a report issued on Thursday. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 13.64% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Northland Securities reissued a “buy” rating and set a $24.00 target price on shares of ADTRAN in a research note on Tuesday, July 4th. MKM Partners restated a “buy” rating and set a $26.50 price target (down from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Finally, Argus upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Thursday, April 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.50.

ADTRAN (NASDAQ ADTN) opened at 22.00 on Thursday. The company has a market capitalization of $1.06 billion, a PE ratio of 28.95 and a beta of 0.62. ADTRAN has a 12-month low of $17.55 and a 12-month high of $23.75. The firm’s 50 day moving average price is $20.39 and its 200-day moving average price is $20.83.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.11. ADTRAN had a return on equity of 7.92% and a net margin of 5.55%. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities analysts anticipate that ADTRAN will post $0.68 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in ADTRAN by 9.6% in the fourth quarter. State Street Corp now owns 1,187,312 shares of the communications equipment provider’s stock valued at $26,537,000 after buying an additional 103,899 shares during the period. FMR LLC increased its stake in ADTRAN by 1.1% in the fourth quarter. FMR LLC now owns 100,051 shares of the communications equipment provider’s stock valued at $2,236,000 after buying an additional 1,055 shares during the period. Guggenheim Capital LLC increased its stake in ADTRAN by 124.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider’s stock valued at $563,000 after buying an additional 13,959 shares during the period. Thrivent Financial for Lutherans increased its stake in 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 during the period. Finally, Norges Bank bought a new stake in ADTRAN during the fourth quarter valued at approximately $8,783,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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