ADTRAN (ADTN) unusual buyer 400 February $18 calls $4.60 offer, a stock breaking out after a multi-month base on its 200-week EMA and will report early August. ADTN now with a $1.5B market cap trading 18.5X Earnings with a debt-free balance sheet and often seen as an eventual M&A target. Needham started at Buy last week as beneficiary from new 10G fiber-to-the-home deployments and elimination of Chinese suppliers. The analyst also cites the easing of semiconductor supply chain constraints and a boost from the accretive acquisition of Adva, along with revenue and cost synergies, should serve as key drivers of growth and margin expansion over the next several years