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Needham Reiterates ADTRAN Holdings (ADTN) Buy Recommendation

Fintel reports that on August 7, 2023, Needham reiterated coverage of ADTRAN Holdings (NASDAQ:ADTN) with a Buy recommendation.

Analyst Price Forecast Suggests 91.86% Upside

As of August 2, 2023, the average one-year price target for ADTRAN Holdings is 14.02. The forecasts range from a low of 11.11 to a high of $17.85. The average price target represents an increase of 91.86% from its latest reported closing price of 7.31.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for ADTRAN Holdings is 1,573MM, an increase of 16.50%. The projected annual non-GAAP EPS is 1.29.

ADTRAN Holdings Declares $0.09 Dividend

On May 8, 2023 the company declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Shareholders of record as of May 23, 2023 received the payment on June 6, 2023. Previously, the company paid $0.09 per share.

At the current share price of $7.31 / share, the stock’s dividend yield is 4.92%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.60%, the lowest has been 1.44%, and the highest has been 6.46%. The standard deviation of yields is 0.88 (n=235).

The current dividend yield is 2.64 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is -0.40. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 4 funds or institutions reporting positions in ADTRAN Holdings. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ADTN is 1.12%, an increase of 83.58%. Total shares owned by institutions increased in the last three months by 27.48% to 167K shares. The put/call ratio of ADTN is 0.69, indicating a bullish outlook.

What are Other Shareholders Doing?

ADTN / ADTRAN Holdings Inc Shares Held by Institutions

AWH Capital holds 94K shares representing 0.12% ownership of the company. In it’s prior filing, the firm reported owning 57K shares, representing an increase of 39.68%. The firm increased its portfolio allocation in ADTN by 105.76% over the last quarter.

ADKSX – Adirondack Small Cap Fund holds 72K shares representing 0.09% ownership of the company. In it’s prior filing, the firm reported owning 46K shares, representing an increase of 36.01%. The firm increased its portfolio allocation in ADTN by 4.21% over the last quarter.

Huntington National Bank holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.

ADTRAN Holdings Background Information
(This description is provided by the company.)

ADTRAN, Inc. is a provider of telecommunications networking equipment and internetworking products. Its headquarters are in Huntsville, Alabama. The company is ISO 9001 and TL9000 certified.

Additional reading:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on August 7, 2023, Needham reiterated coverage of ADTRAN Holdings (NASDAQ:ADTN) with a Buy recommendation. Analyst Price Forecast Suggests 91.86% Upside As of August 2, 2023, the average one-year price target for ADTRAN Holdings is 14.02. The forecasts range from a low of 11.11 to a high of $17.85. The average price target represents an increase of 91.86% from its latest reported closing price of 7.31.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for ADTRAN Holdings is 1,573MM, an increase of 16.50%. The projected annual non-GAAP EPS is 1.29. ADTRAN Holdings Declares $0.09 Dividend On May 8, 2023 the company declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Shareholders of record as of May 23, 2023 received the payment on June 6, 2023. Previously, the company paid $0.09 per share. At the current share price of $7.31 / share, the stock’s dividend yield is 4.92%. Looking back five years and taking a sample every week, the average dividend yield has been 2.60%, the lowest has been 1.44%, and the highest has been 6.46%. The standard deviation of yields is 0.88 (n=235).

The current dividend yield is 2.64 standard deviations above the historical average. Additionally, the company’s dividend payout ratio is -0.40. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5. The company has not increased its dividend in the last three years. What is the Fund Sentiment? There are 4 funds or institutions reporting positions in ADTRAN Holdings. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ADTN is 1.12%, an increase of 83.58%. Total shares owned by institutions increased in the last three months by 27.48% to 167K shares. The put/call ratio of ADTN is 0.69, indicating a bullish outlook. What are Other Shareholders Doing? AWH Capital holds 94K shares representing 0.12% ownership of the company. In it’s prior filing, the firm reported owning 57K shares, representing an increase of 39.68%. The firm increased its portfolio allocation in ADTN by 105.76% over the last quarter.

ADKSX – Adirondack Small Cap Fund holds 72K shares representing 0.09% ownership of the company. In it’s prior filing, the firm reported owning 46K shares, representing an increase of 36.01%. The firm increased its portfolio allocation in ADTN by 4.21% over the last quarter. Huntington National Bank holds 0K shares representing 0.00% ownership of the company. No change in the last quarter. ADTRAN Holdings Background Information(This description is provided by the company.) ADTRAN, Inc. is a provider of telecommunications networking equipment and internetworking products. Its headquarters are in Huntsville, Alabama. The company is ISO 9001 and TL9000 certified.
Additional reading: Condensed Consolidated Balance Sheets (In thousands) June 30, December 31, 2023 2022 Assets Current Assets Cash and cash equivalents $ 124,294 $ 108,644 Short-term investments 3,089 340 Accounts receivable, net 239,565 279,435 Other receivables 32,39 notification pursuant to Article 17 of Regulation (EU) No. 596/2014 CONSULTING AGREEMENT Mr./Herrn Ulrich Dopfer to Amendment to Officer’s Employment Agreement of Christoph Glingener as of March 28, 2023 Christoph Glingener shall receive the following Variable Remuneration starting January 1, 2023: ANLAGE 1 zur Dienstvertragsänderung für Vorstandsmitglied Chris This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/needham-reiterates-adtran-holdings-adtn-buy-recommendation-0 Needham Reiterates ADTRAN Holdings (ADTN) Buy Recommendation

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