Brokerages Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Price Target at $10.33

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received a consensus recommendation of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.50.

A number of brokerages have commented on ADTN. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.00 to $10.00 in a research report on Friday, November 8th. Northland Securities increased their price objective on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Needham & Company LLC increased their price objective on ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Craig Hallum began coverage on ADTRAN in a research report on Wednesday. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

ADTRAN Trading Down 3.1 %

ADTN stock opened at $10.17 on Wednesday. ADTRAN has a 1-year low of $4.34 and a 1-year high of $10.71. The firm has a market cap of $806.54 million, a P/E ratio of -1.56 and a beta of 1.28. The business’s 50 day moving average is $8.31 and its 200-day moving average is $6.58. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.

Institutional Investors Weigh In On ADTRAN

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in ADTRAN by 17.9% during the second quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock worth $475,000 after purchasing an additional 13,688 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of ADTRAN by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after buying an additional 2,396 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ADTRAN by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after buying an additional 3,638 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of ADTRAN by 26.4% during the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock worth $3,579,000 after buying an additional 142,100 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of ADTRAN by 327.5% during the second quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock worth $282,000 after buying an additional 40,653 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.