ADTN has been the topic of a number of other research reports. Zacks Investment Research lowered Horiba from a hold rating to a sell rating in a research note on Wednesday, May 22nd. BidaskClub raised Westport Fuel Systems from a hold rating to a buy rating in a research note on Friday, July 12th. MKM Partners decreased their price objective on ADTRAN to $17.00 and set a buy rating on the stock in a research note on Friday. Finally, Cowen set a $75.00 price objective on Baxter International and gave the company a hold rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $18.80.
ADTN opened at $11.53 on Friday. The firm has a market capitalization of $551.24 million, a price-to-earnings ratio of -24.53, a P/E/G ratio of 10.64 and a beta of 1.25. ADTRAN has a 52 week low of $10.21 and a 52 week high of $19.30. The firm’s fifty day moving average is $15.69.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Wednesday, July 31st. ADTRAN’s payout ratio is -76.60%.
In other ADTRAN news, VP Roger D. Shannon sold 5,701 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total value of $100,622.65. Following the sale, the vice president now directly owns 19,009 shares of the company’s stock, valued at approximately $335,508.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.52% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of ADTN. Norges Bank acquired a new stake in ADTRAN in the 4th quarter worth about $6,121,000. JPMorgan Chase & Co. boosted its stake in ADTRAN by 160.4% in the 1st quarter. JPMorgan Chase & Co. now owns 369,989 shares of the communications equipment provider’s stock worth $5,069,000 after buying an additional 227,882 shares during the last quarter. BlackRock Inc. boosted its stake in ADTRAN by 2.4% in the 4th quarter. BlackRock Inc. now owns 7,294,881 shares of the communications equipment provider’s stock worth $78,347,000 after buying an additional 171,075 shares during the last quarter. Millennium Management LLC boosted its stake in ADTRAN by 77.6% in the 4th quarter. Millennium Management LLC now owns 352,870 shares of the communications equipment provider’s stock worth $3,790,000 after buying an additional 154,189 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in ADTRAN in the 4th quarter worth about $1,049,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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