Atom Investors LP Has $3.82 Million Position in ADTRAN Holdings, Inc. $ADTN

Atom Investors LP lifted its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 146.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,946 shares of the communications equipment provider’s stock after purchasing an additional 261,737 shares during the quarter. Atom Investors LP owned 0.55% of ADTRAN worth $3,823,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ADTN. AQR Capital Management LLC raised its position in shares of ADTRAN by 253.7% during the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock worth $3,039,000 after purchasing an additional 249,954 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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. Legal & General Group Plc raised its position in shares of ADTRAN by 13.9% during the second quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock worth $1,018,000 after purchasing an additional 13,821 shares during the period. American Century Companies Inc. raised its position in shares of ADTRAN by 11.2% during the second quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider’s stock worth $2,009,000 after purchasing an additional 22,524 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of ADTRAN by 17.6% during the second quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock worth $793,000 after purchasing an additional 13,222 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Down 2.2%

NASDAQ:ADTN opened at $14.79 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The company has a market cap of $1.20 billion, a PE ratio of -37.92 and a beta of 1.42. ADTRAN Holdings, Inc. has a 52-week low of $7.11 and a 52-week high of $19.98. The stock has a 50-day simple moving average of $15.82 and a 200 day simple moving average of $11.90.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $286.09 million during the quarter, compared to the consensus estimate of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.ADTRAN’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. On average, sell-side analysts expect that ADTRAN Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on ADTN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Northland Securities set a $18.00 price objective on ADTRAN in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.00.

ADTRAN Company Profile

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.