ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Rating of “Buy” by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned a consensus recommendation of “Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.75.

ADTN has been the subject of a number of analyst reports. Northland Securities increased their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of ADTRAN in a research report on Thursday, January 16th. Craig Hallum initiated coverage on ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Rosenblatt Securities increased their price objective on shares of ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd.

ADTRAN Stock Performance

ADTN opened at $10.61 on Thursday. The firm has a market cap of $841.44 million, a P/E ratio of -1.63 and a beta of 1.29. ADTRAN has a 1-year low of $4.34 and a 1-year high of $12.16. The company has a 50 day simple moving average of $10.08 and a two-hundred day simple moving average of $7.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17.

Hedge Funds Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADTN. Vanguard Group Inc. raised its holdings in shares of ADTRAN by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,592,419 shares of the communications equipment provider’s stock worth $54,915,000 after acquiring an additional 41,478 shares in the last quarter. DnB Asset Management AS raised its stake in ADTRAN by 3.8% during the fourth quarter. DnB Asset Management AS now owns 5,022,392 shares of the communications equipment provider’s stock valued at $41,837,000 after purchasing an additional 184,627 shares in the last quarter. William Blair Investment Management LLC lifted its position in ADTRAN by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider’s stock valued at $38,711,000 after purchasing an additional 114,986 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ADTRAN by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after buying an additional 63,960 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of ADTRAN by 2.8% in the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Company Profile

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.