Adtran Inc. (NASDAQ:ADTN)’s share price was down 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 traded. The stock had previously closed at $19.14.

A number of equities analysts have issued reports on ADTN shares. MKM Partners reissued a “buy” rating on shares of Adtran in a report on Thursday, March 31st. Jefferies Group raised their target price on shares of Adtran from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Monday, March 28th. Needham & Company LLC lifted their price target on Adtran from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, March 28th. Zacks Investment Research cut Adtran from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, Stifel Nicolaus lifted their price target on Adtran from $21.00 to $25.00 and gave the company a “buy” rating in a 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 company. Adtran currently has an average rating of “Hold” and a consensus price target of $22.05.

The company has a market cap of $881.40 million and a price-to-earnings ratio of 32.00. The company’s 50-day moving average price is $18.74 and its 200-day moving average price is $18.75.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, July 28th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, July 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.99%.

A number of hedge funds have bought and sold shares of ADTN. Rhumbline Advisers boosted its stake 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 stake 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 stake 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. Nationwide Fund Advisors boosted its stake 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. Finally, State of New Jersey Common Pension Fund D boosted its stake in Adtran by 80.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 225,000 shares of the company’s stock worth $3,875,000 after buying an additional 100,000 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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