StockNews.com initiated coverage on shares of ADTRAN (NASDAQ:ADTN – Get Free Report) in a research note issued to investors on Thursday. The firm set a “sell” rating on the communications equipment provider’s stock.
ADTN has been the topic of a number of other reports. Needham & Company LLC dropped their price objective on shares of ADTRAN from $15.00 to $12.00 in a research note on Wednesday, August 9th. Rosenblatt Securities lowered their target price on shares of ADTRAN from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $16.60.
Check Out Our Latest Analysis on ADTRAN
ADTRAN Stock Performance
ADTRAN (NASDAQ:ADTN – Get Free Report) last released its quarterly earnings data on Sunday, August 6th. The communications equipment provider reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). ADTRAN had a negative return on equity of 1.19% and a negative net margin of 5.25%. The firm had revenue of $327.38 million during the quarter, compared to the consensus estimate of $329.65 million. On average, research analysts anticipate that ADTRAN will post -0.42 earnings per share for the current fiscal year.
Institutional Trading of ADTRAN
Several institutional investors and hedge funds have recently made changes to their positions in ADTN. FMR LLC grew its position in ADTRAN by 41.3% in the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 574 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of ADTRAN by 165.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 1,386 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of ADTRAN in the third quarter valued at approximately $46,000. Quadrant Capital Group LLC increased its position in shares of ADTRAN by 686.7% during the second quarter. Quadrant Capital Group LLC now owns 3,194 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 2,788 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in ADTRAN by 328.0% during the second quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 2,939 shares during the period. Hedge funds and other institutional investors own 81.88% of the company’s stock.
About ADTRAN
ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.
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