ADTRAN, Inc. (NASDAQ:ADTN) had its target price increased by Needham & Company LLC from $24.00 to $25.00 in a research note published on Thursday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the communications equipment provider’s stock.

A number of other analysts also recently weighed in on the stock. Northland Securities restated a buy rating and issued a $24.00 target price on shares of ADTRAN in a report on Tuesday, July 4th. MKM Partners restated a buy rating and issued a $26.50 target price (down from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Finally, Argus upgraded shares of ADTRAN from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Thursday, April 20th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. ADTRAN currently has an average rating of Buy and a consensus target price of $24.33.

Shares of ADTRAN (NASDAQ ADTN) traded down 2.10% on Thursday, hitting $23.30. The stock had a trading volume of 456,317 shares. The stock has a market cap of $1.13 billion, a PE ratio of 30.66 and a beta of 0.62. The company has a 50 day moving average price of $20.52 and a 200-day moving average price of $20.85. ADTRAN has a 12 month low of $17.55 and a 12 month high of $23.90.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. ADTRAN had a net margin of 5.68% and a return on equity of 8.39%. The firm had revenue of $184.67 million for the quarter, compared to the consensus estimate of $183.05 million. During the same period in the previous year, the firm posted $0.21 EPS. On average, equities research analysts anticipate that ADTRAN will post $0.81 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.55%. ADTRAN’s dividend payout ratio (DPR) is presently 43.90%.

Institutional investors have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. purchased a new position in shares of ADTRAN during the first quarter valued at approximately $371,000. First Midwest Bank Trust Division increased its position in shares of ADTRAN by 3.1% in the first quarter. First Midwest Bank Trust Division now owns 20,310 shares of the communications equipment provider’s stock valued at $421,000 after buying an additional 612 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of ADTRAN by 10.3% in the first quarter. Granite Investment Partners LLC now owns 516,484 shares of the communications equipment provider’s stock valued at $10,717,000 after buying an additional 48,353 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of ADTRAN by 69.3% in the first quarter. Nationwide Fund Advisors now owns 200,699 shares of the communications equipment provider’s stock valued at $4,165,000 after buying an additional 82,175 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of ADTRAN by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 110 shares during the last quarter. Institutional investors own 91.50% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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