SG Americas Securities LLC Grows Position in ADTRAN Holdings, Inc. $ADTN

SG Americas Securities LLC boosted its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 53.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,316,049 shares of the communications equipment provider’s stock after acquiring an additional 459,005 shares during the quarter. SG Americas Securities LLC’s holdings in ADTRAN were worth $16,556,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of ADTRAN by 78.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider’s stock valued at $7,629,000 after purchasing an additional 356,884 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of ADTRAN by 106.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider’s stock worth $1,092,000 after purchasing an additional 60,070 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of ADTRAN by 190.8% during the third quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider’s stock worth $5,464,000 after purchasing an additional 382,170 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of ADTRAN by 520.7% during the third quarter. Quantbot Technologies LP now owns 126,490 shares of the communications equipment provider’s stock worth $1,186,000 after purchasing an additional 106,110 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of ADTRAN by 14.7% during the third quarter. Royce & Associates LP now owns 2,410,775 shares of the communications equipment provider’s stock worth $22,613,000 after purchasing an additional 308,705 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Up 0.6%

Shares of ADTRAN stock opened at $14.04 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The company has a fifty day simple moving average of $15.89 and a 200-day simple moving average of $12.23. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -36.00 and a beta of 1.42. ADTRAN Holdings, Inc. has a 12-month low of $7.11 and a 12-month high of $19.98.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ADTN shares. Evercore initiated coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Rosenblatt Securities upped their price objective on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Four investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.00.

ADTRAN 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.