ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 25.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,184,939 shares of the communications equipment provider’s stock after purchasing an additional 237,739 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in ADTRAN were worth $6,446,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in ADTRAN during the 4th quarter worth $27,000. Nisa Investment Advisors LLC raised its position in ADTRAN by 20,809.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock worth $51,000 after buying an additional 6,867 shares during the last quarter. RPO LLC purchased a new position in shares of ADTRAN in the 4th quarter valued at about $84,000. PEAK6 Investments LLC increased its holdings in shares of ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 3,911 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of ADTRAN by 28.4% in the 4th quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after purchasing an additional 3,326 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Up 4.5 %

Shares of ADTRAN stock traded up $0.29 during mid-day trading on Tuesday, hitting $6.73. 890,568 shares of the stock were exchanged, compared to its average volume of 952,588. ADTRAN Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $9.94. The company has a 50-day simple moving average of $5.45 and a 200 day simple moving average of $5.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.46 and a quick ratio of 1.33.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The company had revenue of $226.17 million for the quarter, compared to analysts’ expectations of $223.00 million. Research analysts expect that ADTRAN Holdings, Inc. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADTN has been the subject of a number of research analyst reports. StockNews.com downgraded shares of ADTRAN from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. Northland Securities upgraded shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research note on Monday, May 20th. Finally, Northland Capmk raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ADTRAN presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.67.

ADTRAN Company Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.