Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Price Target at $12.75

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned an average rating of “Buy” from the five analysts that are covering the stock, MarketBeat 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 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.75.

ADTN has been the topic of a number of research analyst reports. Craig Hallum started coverage on ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. 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. Northland Securities raised their price target on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Rosenblatt Securities upped 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.

Institutional Trading of ADTRAN

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 4,177 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of ADTRAN in the 3rd quarter worth approximately $65,000. Intech Investment Management LLC bought a new position in shares of ADTRAN in the third quarter valued at approximately $92,000. Harbor Capital Advisors Inc. increased its position in shares of ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after acquiring an additional 9,202 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in ADTRAN during the third quarter worth $114,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 4.0 %

Shares of NASDAQ:ADTN opened at $11.44 on Friday. ADTRAN has a 1 year low of $4.34 and a 1 year high of $11.49. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The business’s 50-day moving average is $9.33 and its 200-day moving average is $7.25. The company has a market capitalization of $907.31 million, a price-to-earnings ratio of -1.76 and a beta of 1.29.

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.