ADTRAN Target of Unusually Large Options Trading (NASDAQ:ADTN)

ADTRAN Holdings, Inc. (NASDAQ:ADTN) was the recipient of some unusual options trading on Thursday. Stock traders bought 6,229 call options on the stock. This represents an increase of approximately 496% compared to the average volume of 1,046 call options.

Institutional Investors Weigh In On ADTRAN

A number of large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in ADTRAN by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after acquiring an additional 1,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ADTRAN by 4.3% during 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 during the period. Occudo Quantitative Strategies LP lifted its holdings in shares of ADTRAN by 3.2% during the third 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 lifted its holdings in shares of 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 worth $1,632,000 after buying an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted 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 during the period. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 17th. Argus upgraded ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Finally, Rosenblatt Securities upped their price objective on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

ADTRAN Trading Down 2.2%

Shares of ADTRAN stock opened at $16.55 on Friday. ADTRAN has a 12-month low of $7.11 and a 12-month high of $19.98. The stock has a market cap of $1.34 billion, a P/E ratio of -42.44 and a beta of 1.45. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average is $14.98 and its 200-day moving average is $11.17.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company had revenue of $286.09 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that ADTRAN will post 0.43 earnings per share for the current fiscal year.

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.