Northland Securities reaffirmed their buy rating on shares of ADTRAN, Inc. (NASDAQ:ADTN) in a report released on Tuesday, July 4th. The firm currently has a $24.00 price objective on the communications equipment provider’s stock.
ADTN has been the topic of several other reports. MKM Partners reiterated a buy rating and set a $26.50 price target (down from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Zacks Investment Research cut ADTRAN from a buy rating to a hold rating in a research report on Tuesday, March 21st. Argus upgraded ADTRAN from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Thursday, April 20th. Finally, Needham & Company LLC decreased their target price on ADTRAN from $25.00 to $24.00 and set a buy rating on the stock in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. ADTRAN presently has a consensus rating of Buy and a consensus price target of $23.43.
Shares of ADTRAN (NASDAQ ADTN) traded down 0.64% on Tuesday, hitting $23.20. The stock had a trading volume of 310,194 shares. ADTRAN has a 12 month low of $17.55 and a 12 month high of $24.05. The stock has a market cap of $1.11 billion, a P/E ratio of 28.96 and a beta of 0.62. The firm has a 50 day moving average of $21.03 and a 200 day moving average of $20.90.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. The company had revenue of $184.67 million for the quarter, compared to analysts’ expectations of $183.05 million. During the same period last year, the firm earned $0.21 EPS. On average, equities analysts forecast that ADTRAN will post $0.81 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a $0.09 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.55%. ADTRAN’s dividend payout ratio is currently 43.90%.
In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total value of $570,480.00. Following the completion of the sale, the senior vice president now owns 5,417 shares of the company’s stock, valued at $128,762.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.96% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of ADTN. BlackRock Inc. raised its position in ADTRAN by 75,959.4% in the first quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock worth $123,054,000 after buying an additional 5,922,556 shares during the last quarter. Vanguard Group Inc. raised its position in ADTRAN by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,434,998 shares of the communications equipment provider’s stock worth $92,026,000 after buying an additional 252,733 shares during the last quarter. Victory Capital Management Inc. raised its position in ADTRAN by 10.2% in the first quarter. Victory Capital Management Inc. now owns 3,835,026 shares of the communications equipment provider’s stock worth $79,577,000 after buying an additional 356,159 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ADTRAN by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,870,230 shares of the communications equipment provider’s stock worth $59,558,000 after buying an additional 172,439 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its position in ADTRAN by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 2,018,137 shares of the communications equipment provider’s stock worth $41,675,000 after buying an additional 7,790 shares during the last quarter. Institutional investors and hedge funds own 91.49% of the company’s stock.
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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