Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) PT at $13.00

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

Several equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of ADTRAN in a research report on Tuesday, November 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $11.00 target price on shares of ADTRAN in a report on Thursday.

Insider Buying and Selling

In related news, CFO Timothy P. Santo acquired 6,150 shares of the stock in a transaction dated Friday, November 28th. The shares were purchased at an average cost of $8.02 per share, with a total value of $49,323.00. Following the transaction, the chief financial officer directly owned 26,594 shares in the company, valued at approximately $213,283.88. This represents a 30.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas R. Stanton acquired 40,928 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average price of $7.33 per share, with a total value of $300,002.24. Following the completion of the purchase, the chief executive officer owned 982,096 shares in the company, valued at $7,198,763.68. This trade represents a 4.35% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 59,937 shares of company stock valued at $449,754. 1.50% of the stock is owned by company insiders.

Institutional Trading of ADTRAN

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of ADTRAN by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after purchasing an additional 1,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 1,946 shares in the last quarter. Occudo Quantitative Strategies LP increased its stake in ADTRAN by 3.2% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock worth $616,000 after buying an additional 2,016 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ADTRAN by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock valued at $1,632,000 after acquiring an additional 2,068 shares during the period. Finally, ST Germain D J Co. Inc. lifted its position in shares of ADTRAN by 100.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 2,500 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

ADTN stock opened at $10.07 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.96 and a quick ratio of 1.23. ADTRAN has a 1 year low of $6.93 and a 1 year high of $12.44. The company has a market cap of $806.81 million, a P/E ratio of -9.41 and a beta of 1.39. The stock’s fifty day moving average price is $9.29 and its 200-day moving average price is $9.07.

ADTRAN Company Profile

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.