ADTRAN, Inc. (NASDAQ:ADTN) fell 11.6% during mid-day trading on Friday . The stock traded as low as $16.52 and last traded at $16.67. 2,069,100 shares changed hands during mid-day trading, an increase of 203% from the average session volume of 682,633 shares. The stock had previously closed at $18.85.

Several research firms have issued reports on ADTN. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Friday, October 20th. Northland Securities set a $28.00 price objective on shares of ADTRAN and gave the company a “buy” rating in a research report on Wednesday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of ADTRAN in a research report on Friday, January 12th. TheStreet cut shares of ADTRAN from a “b” rating to a “c+” rating in a research report on Wednesday. Finally, Cowen reissued a “hold” rating and issued a $16.00 price objective on shares of ADTRAN in a research report on Friday, December 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.41.

The stock has a market cap of $802.89, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 2.43, a current ratio of 3.98 and a debt-to-equity ratio of 0.05.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%. The firm had revenue of $126.52 million during the quarter, compared to analysts’ expectations of $125.90 million. analysts anticipate that ADTRAN, Inc. will post 0.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be given a $0.09 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.20%. ADTRAN’s payout ratio is presently 72.00%.

In other news, SVP Kevin P. Heering sold 9,809 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the sale, the senior vice president now owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.96% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in ADTRAN by 1.5% during the third quarter. Victory Capital Management Inc. now owns 3,890,822 shares of the communications equipment provider’s stock valued at $93,379,000 after acquiring an additional 56,668 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in ADTRAN by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,001,065 shares of the communications equipment provider’s stock valued at $61,972,000 after acquiring an additional 130,835 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in ADTRAN by 1.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,776,203 shares of the communications equipment provider’s stock valued at $66,629,000 after acquiring an additional 26,778 shares during the last quarter. Renaissance Technologies LLC lifted its position in ADTRAN by 25.4% during the second quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after acquiring an additional 328,600 shares during the last quarter. Finally, State Street Corp lifted its position in ADTRAN by 4.3% during the second quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after acquiring an additional 54,671 shares during the last quarter. 91.37% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://theolympiareport.com/2018/01/21/adtran-adtn-stock-price-down-11-6.html.

About ADTRAN

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.

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.