Vanguard Group Inc. Has $78.64 Million Position in ADTRAN Holdings, Inc. $ADTN

Vanguard Group Inc. lifted its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,383,305 shares of the communications equipment provider’s stock after purchasing an additional 217,148 shares during the period. Vanguard Group Inc. owned about 0.10% of ADTRAN worth $78,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after purchasing an additional 1,946 shares during the period. Cape Investment Advisory Inc. acquired a new position in ADTRAN during the 2nd quarter worth about $27,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of ADTRAN by 19.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,531 shares of the communications equipment provider’s stock valued at $175,000 after buying an additional 3,217 shares during the period. SG Americas Securities LLC lifted its stake in shares of ADTRAN by 1.4% in the second quarter. SG Americas Securities LLC now owns 237,207 shares of the communications equipment provider’s stock worth $2,128,000 after acquiring an additional 3,370 shares during the period. Finally, Creative Planning boosted its holdings in ADTRAN by 5.7% in the second quarter. Creative Planning now owns 63,774 shares of the communications equipment provider’s stock valued at $572,000 after acquiring an additional 3,424 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

ADTN stock opened at $10.06 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50. ADTRAN Holdings, Inc. has a 12-month low of $6.93 and a 12-month high of $11.10. The firm has a market cap of $811.44 million, a PE ratio of -19.73 and a beta of 1.37. The business has a 50 day moving average of $9.55 and a 200-day moving average of $9.15.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The business had revenue of $291.56 million during the quarter, compared to the consensus estimate of $281.12 million. The company’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of ADTRAN from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a report on Thursday, February 26th. Rosenblatt Securities increased their price target on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Argus raised ADTRAN to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ADTRAN presently has an average rating of “Hold” and an average price target of $15.33.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.