Key Points
- Nikos Theodosopoulos, an ADTRAN director, purchased 12,859 shares on Nov. 26 at an average price of $7.81 (about $100,429), boosting his direct holding to 52,154 shares—a 32.72% increase.
- ADTRAN is a roughly $634M market-cap communications-equipment company trading near $7.90 with negative earnings (P/E -6.04, negative net margin) and mixed analyst sentiment but an average price target of $12.80 (five Buys, one Hold, one Sell).
ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) CFO Timothy Santo acquired 6,150 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was acquired at an average cost of $8.02 per share, for a total transaction of $49,323.00. Following the completion of the purchase, the chief financial officer owned 26,594 shares in the company, valued at $213,283.88. The trade was a 30.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
ADTRAN Stock Performance
Shares of ADTN opened at $7.91 on Tuesday. ADTRAN Holdings, Inc. has a 12-month low of $6.93 and a 12-month high of $12.44. The stock has a market cap of $633.72 million, a P/E ratio of -6.04 and a beta of 1.41. The company has a current ratio of 1.96, a quick ratio of 1.19 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $8.77 and a two-hundred day moving average of $8.86.
ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share for the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The business had revenue of $358.27 million during the quarter. As a group, research analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Swiss National Bank purchased a new stake in ADTRAN in the first quarter valued at approximately $1,273,000. Raymond James Financial Inc. boosted its holdings in shares of ADTRAN by 47.9% in the 1st quarter. Raymond James Financial Inc. now owns 380,898 shares of the communications equipment provider's stock valued at $3,321,000 after purchasing an additional 123,307 shares during the last quarter. Invesco Ltd. grew its stake in shares of ADTRAN by 325.4% during the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider's stock valued at $10,317,000 after buying an additional 905,056 shares during the period. Ieq Capital LLC acquired a new stake in shares of ADTRAN during the 1st quarter worth $209,000. Finally, Russell Investments Group Ltd. raised its position in shares of ADTRAN by 257.3% in the 1st quarter. Russell Investments Group Ltd. now owns 75,162 shares of the communications equipment provider's stock worth $655,000 after buying an additional 54,125 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ADTN has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $12.00 price target on shares of ADTRAN in a report on Tuesday, November 25th. Wall Street Zen downgraded shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Weiss Ratings restated a "sell (e+)" rating on shares of ADTRAN in a report on Wednesday, October 8th. Rosenblatt Securities reiterated a "buy" rating and set a $11.00 price target on shares of ADTRAN in a report on Wednesday, November 5th. Finally, B. Riley assumed coverage on shares of ADTRAN in a research note on Thursday, September 18th. They set a "buy" rating and a $16.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.80.
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About ADTRAN
(
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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.
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