Key Points
- ADTRAN CEO Thomas Stanton acquired 150,000 shares for $601,500 at an average price of $4.01, increasing his direct holdings by 11.9% to 1,410,890 shares.
- For the latest quarter, ADTRAN reported EPS of $0.09, above the $0.04 consensus, while revenue of $281.17 million fell short of expectations; revenue was up 0.6% year over year.
- Analysts’ consensus rating is Hold, with an average price target of $11.21. Rosenblatt downgraded the stock to Neutral and cut its target from $15 to $6.25.
ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) CEO Thomas Stanton bought 150,000 shares of the company's stock in a transaction on Friday, November 6th. The shares were acquired at an average price of $4.01 per share, for a total transaction of $601,500.00. Following the transaction, the chief executive officer directly owned 1,410,890 shares in the company, valued at $5,657,668.90. This trade represents a 11.90% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
ADTRAN Stock Performance
Shares of ADTN stock opened at $4.29 on Tuesday. The company has a market cap of $349.55 million, a price-to-earnings ratio of -16.50, a price-to-earnings-growth ratio of 2.90 and a beta of 1.53. The stock has a 50 day simple moving average of $6.76 and a 200-day simple moving average of $10.90. ADTRAN Holdings, Inc. has a 12-month low of $3.92 and a 12-month high of $19.98. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 2.32.
ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. ADTRAN had a positive return on equity of 17.76% and a negative net margin of 2.20%. The business had revenue of $281.17 million during the quarter, compared to analysts' expectations of $285.15 million. During the same period last year, the firm earned $0.05 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that ADTRAN Holdings, Inc. will post 0.16 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on ADTN. Rosenblatt Securities downgraded ADTRAN from a "buy" rating to a "neutral" rating and reduced their target price for the company from $15.00 to $6.25 in a report on Tuesday, November 3rd. Wall Street Zen cut shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Northland Securities set a $15.00 price target on shares of ADTRAN in a report on Wednesday, August 5th. Evercore set a $11.00 price objective on shares of ADTRAN in a research note on Wednesday, August 5th. Finally, Weiss Ratings cut shares of ADTRAN from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 16th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ADTRAN currently has an average rating of "Hold" and a consensus target price of $11.21.
View Our Latest Stock Report on ADTN
Institutional Investors Weigh In On ADTRAN
A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in ADTRAN in the 2nd quarter valued at approximately $108,923,000. Royce & Associates LP raised its holdings in ADTRAN by 4.7% during the third quarter. Royce & Associates LP now owns 3,111,416 shares of the communications equipment provider's stock worth $21,267,000 after purchasing an additional 138,499 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in ADTRAN by 50.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider's stock worth $16,817,000 after purchasing an additional 448,848 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in ADTRAN during the second quarter worth $15,276,000. Finally, Sei Investments Co. boosted its position in ADTRAN by 162.0% during the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider's stock worth $13,902,000 after purchasing an additional 683,262 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.
ADTRAN Company Profile
(
Get Free Report)
ADTRAN Holdings, Inc (NASDAQ: ADTN) is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.
Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
