ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Recommendation of “Hold” by Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTNGet Rating) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $29.33.

A number of brokerages have commented on ADTN. Loop Capital upgraded shares of ADTRAN from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $26.00 in a research report on Monday, September 26th. The Goldman Sachs Group increased their price target on shares of ADTRAN from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Cowen increased their price target on shares of ADTRAN to $34.00 in a research report on Monday, August 15th. StockNews.com cut shares of ADTRAN from a “hold” rating to a “sell” rating in a report on Wednesday, November 16th. Finally, Rosenblatt Securities cut their target price on shares of ADTRAN from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, September 8th.

ADTRAN Trading Down 0.5 %

Shares of ADTRAN stock opened at $20.25 on Friday. ADTRAN has a 12-month low of $16.30 and a 12-month high of $25.47. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -31.64 and a beta of 1.40. The company’s 50-day moving average price is $20.10 and its 200-day moving average price is $20.47.

ADTRAN Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, November 21st. ADTRAN’s payout ratio is -56.25%.

Institutional Trading of ADTRAN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new stake in ADTRAN in the third quarter worth $290,000. California State Teachers Retirement System lifted its stake in ADTRAN by 55.8% in the third quarter. California State Teachers Retirement System now owns 90,818 shares of the communications equipment provider’s stock worth $1,778,000 after acquiring an additional 32,508 shares during the period. Advisory Research Inc. purchased a new position in ADTRAN during the third quarter valued at $226,000. Alpha Paradigm Partners LLC lifted its position in ADTRAN by 74.6% during the third quarter. Alpha Paradigm Partners LLC now owns 103,719 shares of the communications equipment provider’s stock valued at $2,031,000 after buying an additional 44,303 shares during the period. Finally, BNP Paribas Arbitrage SNC lifted its position in ADTRAN by 31.3% during the third quarter. BNP Paribas Arbitrage SNC now owns 110,259 shares of the communications equipment provider’s stock valued at $2,159,000 after buying an additional 26,285 shares during the period. Hedge funds and other institutional investors own 97.65% of the company’s stock.

About ADTRAN

(Get Rating)

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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Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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