ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Rating of “Hold” by Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been given an average recommendation of “Hold” by the five analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.00.

A number of research analysts recently weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 target price on shares of ADTRAN in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ADTRAN in a research note on Wednesday, October 8th.

Insiders Place Their Bets

In other news, CEO Thomas R. Stanton purchased 40,928 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average cost of $7.33 per share, for a total transaction of $300,002.24. Following the completion of the purchase, the chief executive officer owned 982,096 shares of the company’s stock, valued at approximately $7,198,763.68. This trade represents a 4.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nikos Theodosopoulos acquired 12,859 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $7.81 per share, with a total value of $100,428.79. Following the completion of the acquisition, the director owned 52,154 shares of the company’s stock, valued at $407,322.74. The trade was a 32.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 59,937 shares of company stock valued at $449,754 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On ADTRAN

Several large investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new stake in shares of ADTRAN during the third quarter valued at about $2,443,000. SG Capital Management LLC bought a new position in ADTRAN in the 2nd quarter valued at about $7,601,000. Los Angeles Capital Management LLC acquired a new position in ADTRAN during the 2nd quarter valued at about $418,000. Y Intercept Hong Kong Ltd bought a new stake in shares of ADTRAN during the 2nd quarter worth about $2,579,000. Finally, Squarepoint Ops LLC lifted its stake in shares of ADTRAN by 56.4% in the 2nd quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider’s stock worth $5,659,000 after acquiring an additional 227,448 shares during the period. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Stock Down 1.5%

Shares of NASDAQ:ADTN opened at $9.58 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The firm has a market cap of $767.55 million, a price-to-earnings ratio of -8.95 and a beta of 1.35. The stock’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $8.99. ADTRAN has a 12-month low of $6.93 and a 12-month high of $12.44.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, November 4th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). ADTRAN had a negative return on equity of 4.63% and a negative net margin of 8.44%.The company had revenue of $279.44 million for the quarter, compared to analysts’ expectations of $274.60 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. On average, research analysts forecast that ADTRAN will post -0.5 EPS for the current year.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.