ADTRAN, Inc. (ADTN) Shares Bought by BlackRock Inc.

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BlackRock Inc. raised its stake in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,403,272 shares of the communications equipment provider’s stock after buying an additional 184,161 shares during the quarter. BlackRock Inc. owned about 13.37% of ADTRAN worth $99,569,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in ADTRAN by 111.2% during the fourth quarter. Wells Fargo & Company MN now owns 121,147 shares of the communications equipment provider’s stock valued at $2,344,000 after buying an additional 63,774 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in ADTRAN by 694.7% during the fourth quarter. Thrivent Financial For Lutherans now owns 230,940 shares of the communications equipment provider’s stock valued at $4,468,000 after buying an additional 201,880 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in ADTRAN by 2.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 442,932 shares of the communications equipment provider’s stock valued at $8,571,000 after buying an additional 11,252 shares during the last quarter. Vident Investment Advisory LLC raised its stake in ADTRAN by 78.9% during the fourth quarter. Vident Investment Advisory LLC now owns 17,754 shares of the communications equipment provider’s stock valued at $344,000 after buying an additional 7,830 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in ADTRAN during the fourth quarter valued at $468,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

ADTRAN opened at $14.85 on Friday, Marketbeat.com reports. ADTRAN, Inc. has a 1-year low of $13.95 and a 1-year high of $25.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.19. The firm has a market capitalization of $699.55 million, a PE ratio of 16.69 and a beta of 0.57.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, April 17th. The communications equipment provider reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.15). ADTRAN had a return on equity of 3.33% and a net margin of 1.30%. The business had revenue of $120.81 million during the quarter, compared to analysts’ expectations of $126.20 million. During the same quarter in the prior year, the firm earned $0.14 EPS. research analysts anticipate that ADTRAN, Inc. will post -0.38 EPS for the current fiscal year.

ADTN has been the subject of a number of recent research reports. BidaskClub cut ADTRAN from a “hold” rating to a “sell” rating in a research note on Wednesday, May 16th. Zacks Investment Research upgraded ADTRAN from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. ValuEngine cut ADTRAN from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Argus cut ADTRAN from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective (down previously from $22.00) on shares of ADTRAN in a research note on Thursday, April 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.32.

ADTRAN Company Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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