ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $13.50 Average Price Target from Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has earned a consensus recommendation of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.50.

A number of analysts have recently issued reports on ADTN shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a research note on Friday, February 28th. Northland Securities lifted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Needham & Company LLC increased their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Craig Hallum started coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock.

Institutional Trading of ADTRAN

Several large investors have recently added to or reduced their stakes in ADTN. Schonfeld Strategic Advisors LLC purchased a new stake in shares of ADTRAN in the fourth quarter valued at about $12,921,000. JPMorgan Chase & Co. boosted its holdings in ADTRAN by 591.5% in the 4th quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider’s stock valued at $7,196,000 after purchasing an additional 738,893 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ADTRAN in the 4th quarter valued at approximately $6,095,000. Royce & Associates LP acquired a new stake in shares of ADTRAN during the 4th quarter worth approximately $4,061,000. Finally, 1492 Capital Management LLC purchased a new stake in shares of ADTRAN during the 4th quarter valued at approximately $3,033,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Trading Down 3.5 %

Shares of ADTRAN stock opened at $8.90 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN has a twelve month low of $4.34 and a twelve month high of $12.44. The firm has a market capitalization of $710.75 million, a PE ratio of -1.37 and a beta of 1.29. The firm’s 50-day moving average price is $10.18 and its 200 day moving average price is $8.44.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.