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

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) hit a new 52-week high on Tuesday . The company traded as high as $10.88 and last traded at $10.52, with a volume of 222980 shares trading hands. The stock had previously closed at $10.19.

Wall Street Analyst Weigh In

ADTN has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of ADTRAN in a report on Thursday, January 16th. StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Craig Hallum began coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Rosenblatt Securities boosted their target price on ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Northland Securities boosted their target price on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $12.75.

ADTRAN Stock Performance

The company has a market cap of $831.17 million, a P/E ratio of -1.61 and a beta of 1.28. The firm has a 50 day moving average price of $8.85 and a 200-day moving average price of $6.91. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

Institutional Trading of ADTRAN

Several large investors have recently made changes to their positions in ADTN. Millennium Management LLC boosted its stake in shares of ADTRAN by 8,824.3% during the 2nd quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock worth $8,151,000 after acquiring an additional 1,532,257 shares in the last quarter. Divisar Capital Management LLC boosted its stake in shares of ADTRAN by 25.0% during the 2nd quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock worth $30,195,000 after acquiring an additional 1,146,774 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of ADTRAN by 1,545.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 662,154 shares of the communications equipment provider’s stock worth $3,927,000 after acquiring an additional 621,906 shares in the last quarter. Marshall Wace LLP lifted its position in shares of ADTRAN by 3,656.1% during the 2nd quarter. Marshall Wace LLP now owns 444,198 shares of the communications equipment provider’s stock worth $2,336,000 after purchasing an additional 432,372 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of ADTRAN by 99.3% during the 3rd quarter. GSA Capital Partners LLP now owns 491,414 shares of the communications equipment provider’s stock worth $2,914,000 after purchasing an additional 244,901 shares during the last quarter. 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.