ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned an average rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.67.

A number of equities analysts recently commented on ADTN shares. Needham & Company LLC dropped their price target on ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Evercore set a $11.00 price objective on ADTRAN in a research note on Wednesday, August 5th. Craig Hallum set a $12.00 price objective on ADTRAN in a report on Wednesday, August 5th. Rosenblatt Securities reduced their price target on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

ADTRAN Price Performance

Shares of ADTN opened at $7.04 on Wednesday. The business’s 50 day moving average is $7.67 and its 200 day moving average is $12.04. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69. ADTRAN has a 12-month low of $6.73 and a 12-month high of $19.98. The company has a market capitalization of $573.62 million, a PE ratio of -25.14, a price-to-earnings-growth ratio of 4.31 and a beta of 1.48.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $281.15 million for the quarter, compared to analysts’ expectations of $290.19 million. ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts expect that ADTRAN will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in ADTRAN during the 2nd quarter valued at $108,923,000. Needham Investment Management LLC lifted its position in shares of ADTRAN by 23.2% during the fourth quarter. Needham Investment Management LLC now owns 1,447,500 shares of the communications equipment provider’s stock worth $12,579,000 after purchasing an additional 272,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ADTRAN by 50.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after purchasing an additional 448,848 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of ADTRAN by 53.6% during the first quarter. SG Americas Securities LLC now owns 1,316,049 shares of the communications equipment provider’s stock valued at $16,556,000 after purchasing an additional 459,005 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of ADTRAN by 162.0% during the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock valued at $13,902,000 after purchasing an additional 683,262 shares during the period. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc is a communications networking company that develops hardware, software and services for telecommunications providers, enterprises and private networks. Its solutions help customers deploy and manage broadband, fiber, Ethernet, fixed wireless and other access networks.

The company’s portfolio includes fiber access platforms, optical networking systems, broadband gateways, routers, switches, Wi-Fi equipment, network management software and cloud-based tools. ADTRAN also provides professional, support and managed services designed to help communications service providers build and operate scalable networks.

Founded in 1985 and headquartered in Huntsville, Alabama, ADTRAN serves customers across North America, Europe and other international markets.