ADTRAN (NASDAQ:ADTN) Hits New 12-Month High – Should You Buy?

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) hit a new 52-week high during trading on Friday . The company traded as high as $8.37 and last traded at $8.37, with a volume of 34188 shares trading hands. The stock had previously closed at $8.16.

Analysts Set New Price Targets

ADTN has been the topic of several recent research reports. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and lifted their target price for the company from $6.00 to $10.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC increased their price target on ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $9.50.

ADTRAN Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The company has a 50 day simple moving average of $6.41 and a 200-day simple moving average of $5.76. The stock has a market capitalization of $684.45 million, a P/E ratio of -1.32 and a beta of 1.20.

Institutional Trading of ADTRAN

A number of institutional investors have recently added to or reduced their stakes in ADTN. Massachusetts Financial Services Co. MA boosted its holdings in ADTRAN by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock valued at $376,000 after purchasing an additional 2,396 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock valued at $453,000 after buying an additional 2,764 shares during the period. Inspire Investing LLC grew its position in ADTRAN by 5.1% during the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider’s stock worth $413,000 after buying an additional 3,387 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in ADTRAN by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after acquiring an additional 3,638 shares during the last quarter. Finally, PEAK6 Investments LLC boosted its position in shares of ADTRAN by 28.5% during the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after acquiring an additional 3,911 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.