ADTRAN(NASDAQ:ADTN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 12, 2016. Company reported revenue of $162.70M. Analysts estimated a revenue of $162.43M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.20.
In a different note, On Apr 18, 2016, Goldman Sachs said it Downgrades its rating on ADTRAN. In the research note, the firm Lowers the price-target to $18.00 per share. The shares have been rated ‘Sell’ by the firm.
ADTRAN (ADTN) made into the market gainers list on Fridays trading session with the shares advancing 0.50% or 0.09 points. Due to strong positive momentum, the stock ended at $18.05, which is also near the day’s high of $18.12. The stock began the session at $18 and the volume stood at 7,58,699 shares. The 52-week high of the shares is $21.43 and the 52 week low is $13.9238. The company has a current market capitalization of $884 M and it has 4,89,71,260 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Apr 29, 2015, Thomas R Stanton (CEO) purchased 31,200 shares at $16.05 per share price.Also, On Apr 24, 2015, James E Matthews (director) sold 23,000 shares at $16.03 per share price.
ADTRAN Inc. is a global provider of networking and communications equipment. The Companys solutions enable voice data video and Internet communications across a variety of network infrastructures. The Company operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. The Carrier Networks Division offers broadband and optical infrastructure products and services used by service providers to aggregate transport and deliver voice data and video services to their customers premises and mobile network cell sites. The Enterprise Networks Division provides cloud connectivity solutions such as IP business gateways and access routers which provide business access to service provider networks and enterprise communications solutions which enable businesses to construct voice data and video networks at a single customer premises or among a distributed enterprises multiple sites.