Loop Capital upgraded shares of ADTRAN (NASDAQ:ADTN – Get Rating) from a hold rating to a buy rating in a report issued on Monday, MarketBeat reports. They currently have $26.00 target price on the communications equipment provider's stock, up from their prior target price of $21.00.

A number of other brokerages also recently weighed in on ADTN. Rosenblatt Securities lowered their price target on ADTRAN from $30.00 to $29.00 and set a buy rating for the company in a report on Thursday, September 8th. Needham & Company LLC started coverage on ADTRAN in a report on Thursday, July 14th. They issued a buy rating and a $28.00 price target for the company. Cowen upped their price objective on ADTRAN to $34.00 in a research note on Monday, August 15th. Westpark Capital started coverage on ADTRAN in a research note on Tuesday, September 13th. They set a hold rating for the company. Finally, The Goldman Sachs Group upped their price objective on ADTRAN from $21.00 to $24.00 and gave the stock a neutral rating in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ADTRAN presently has a consensus rating of Moderate Buy and a consensus price target of $29.33.

ADTRAN Stock Performance

ADTRAN stock opened at $19.00 on Monday. The stock's 50 day moving average price is $22.51 and its 200 day moving average price is $19.89. ADTRAN has a one year low of $16.30 and a one year high of $25.47. The firm has a market capitalization of $936.99 million, a PE ratio of -67.85 and a beta of 1.36.

ADTRAN Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, August 17th. ADTRAN's dividend payout ratio is -128.57%.

Insider Activity

In other news, CEO Brian Protiva sold 26,501 shares of the company's stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $24.64, for a total transaction of $652,984.64. Following the completion of the sale, the chief executive officer now directly owns 330,609 shares of the company's stock, valued at $8,146,205.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Verition Fund Management LLC increased its position in ADTRAN by 74.7% in the 2nd quarter. Verition Fund Management LLC now owns 57,777 shares of the communications equipment provider's stock worth $1,013,000 after purchasing an additional 24,711 shares during the last quarter. Legal & General Group Plc increased its position in ADTRAN by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 117,812 shares of the communications equipment provider's stock worth $2,066,000 after purchasing an additional 1,221 shares during the last quarter. Captrust Financial Advisors increased its position in ADTRAN by 95.6% in the 2nd quarter. Captrust Financial Advisors now owns 10,053 shares of the communications equipment provider's stock worth $181,000 after purchasing an additional 4,914 shares during the last quarter. Jane Street Group LLC increased its position in ADTRAN by 294.7% in the 2nd quarter. Jane Street Group LLC now owns 81,550 shares of the communications equipment provider's stock worth $1,429,000 after purchasing an additional 60,890 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in ADTRAN in the 2nd quarter worth about $853,000. 97.65% of the stock is owned by institutional investors and hedge funds.

ADTRAN Company Profile

(Get Rating)

ADTRAN Holdings, Inc develops and provides network access solutions. It is a global provider of open, disaggregated networking and communications equipment that enable voice, data, video and internet communications across any network infrastructure. The company was founded in 1985 and is headquartered in Huntsville, AL.

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