Shares of Adtran Inc. (NASDAQ:ADTN) fell 4.8% during mid-day trading on Thursday . The company traded as low as $18.20 and last traded at $18.23, with a volume of 647,019 shares. The stock had previously closed at $19.14.

A number of brokerages have issued reports on ADTN. Needham & Company LLC reaffirmed a “buy” rating on shares of Adtran in a report on Thursday. Zacks Investment Research cut Adtran from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Goldman Sachs Group Inc. cut Adtran from a “neutral” rating to a “sell” rating and cut their target price for the stock from $18.00 to $17.00 in a research report on Monday, April 18th. MKM Partners lifted their target price on Adtran from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Finally, Stifel Nicolaus lifted their target price on Adtran from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.05.

The stock’s 50-day moving average is $18.81 and its 200 day moving average is $18.75. The company has a market cap of $877.00 million and a PE ratio of 31.84.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, July 28th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, July 26th. This represents a $0.36 annualized dividend and a yield of 2.00%.

A number of institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its position in Adtran by 263.6% in the fourth quarter. Nationwide Fund Advisors now owns 133,939 shares of the company’s stock worth $2,306,000 after buying an additional 97,104 shares during the last quarter. Rhumbline Advisers boosted its position in Adtran by 0.9% in the fourth quarter. Rhumbline Advisers now owns 138,833 shares of the company’s stock worth $2,391,000 after buying an additional 1,255 shares during the last quarter. California Public Employees Retirement System boosted its position in Adtran by 3.3% in the fourth quarter. California Public Employees Retirement System now owns 209,200 shares of the company’s stock worth $3,602,000 after buying an additional 6,600 shares during the last quarter. Comerica Bank boosted its position in Adtran by 6.9% in the fourth quarter. Comerica Bank now owns 229,387 shares of the company’s stock worth $3,941,000 after buying an additional 14,713 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in Adtran by 64.2% in the fourth quarter. Heartland Advisors Inc. now owns 269,434 shares of the company’s stock worth $4,640,000 after buying an additional 105,383 shares during the last quarter.

ADTRAN, Inc is a global provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a variety of network infrastructures. The Company operates through two segments: the Carrier Networks Division and the Enterprise Networks Division.

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