ADTRAN (NASDAQ:ADTN) Given New $14.00 Price Target at Needham & Company LLC

ADTRAN (NASDAQ:ADTN) had its price objective increased by Needham & Company LLC from $11.00 to $14.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities boosted their price target on ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Northland Securities boosted their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Craig Hallum assumed coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $13.50.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $10.57 on Friday. The stock has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $7.84. The stock has a market capitalization of $838.26 million, a price-to-earnings ratio of -1.62 and a beta of 1.29. ADTRAN has a 12-month low of $4.34 and a 12-month high of $12.44. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89.

Institutional Trading of ADTRAN

A number of hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP increased its position in ADTRAN by 4.3% during the fourth quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 877 shares during the last quarter. Catalyst Funds Management Pty Ltd increased its position in ADTRAN by 6.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock valued at $190,000 after acquiring an additional 1,300 shares during the last quarter. Hsbc Holdings PLC increased its position in ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock valued at $122,000 after acquiring an additional 1,501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ADTRAN by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock valued at $373,000 after acquiring an additional 1,605 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its position in ADTRAN by 0.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider’s stock valued at $2,320,000 after acquiring an additional 1,670 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

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.