Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Free Report) have received an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $14.6667.
Several research analysts recently issued reports on the stock. Zacks Research lowered shares of ADTRAN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. B. Riley Financial reissued a “buy” rating and set a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Evercore set a $11.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a report on Tuesday, June 30th.
Read Our Latest Stock Analysis on ADTN
ADTRAN Price Performance
ADTRAN (NASDAQ:ADTN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm had revenue of $281.15 million for the quarter, compared to analysts’ expectations of $290.19 million. ADTRAN’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts expect that ADTRAN will post 0.16 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of ADTRAN in the 2nd quarter worth about $108,923,000. Millennium Management LLC grew its position in ADTRAN by 371.2% during the 4th quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock valued at $23,418,000 after purchasing an additional 2,122,844 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in ADTRAN during the 2nd quarter valued at about $15,276,000. Alyeska Investment Group L.P. bought a new stake in ADTRAN during the 3rd quarter valued at about $10,168,000. Finally, California State Teachers Retirement System increased its stake in ADTRAN by 1,502.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,154,200 shares of the communications equipment provider’s stock valued at $16,043,000 after purchasing an additional 1,082,177 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.
ADTRAN Company Profile
ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.
The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.
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