ADTRAN Holdings, Inc. $ADTN Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC grew its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 190.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 582,490 shares of the communications equipment provider’s stock after buying an additional 382,170 shares during the period. Granahan Investment Management LLC owned 0.73% of ADTRAN worth $5,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in shares of ADTRAN by 691.6% during the third quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock valued at $8,749,000 after acquiring an additional 814,864 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in ADTRAN by 5,809.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after purchasing an additional 773,509 shares during the last quarter. Marshall Wace LLP lifted its holdings in ADTRAN by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 816,533 shares of the communications equipment provider’s stock valued at $7,324,000 after purchasing an additional 382,609 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in ADTRAN by 110.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 686,711 shares of the communications equipment provider’s stock valued at $6,160,000 after purchasing an additional 360,841 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of ADTRAN by 78.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider’s stock worth $7,629,000 after purchasing an additional 356,884 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ADTN shares. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Rosenblatt Securities upped their price objective on shares of ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen upgraded shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.33.

ADTRAN Stock Down 0.7%

ADTN opened at $9.94 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a market capitalization of $801.76 million, a price-to-earnings ratio of -19.49 and a beta of 1.37. The business has a 50-day moving average of $9.70 and a two-hundred day moving average of $9.19. ADTRAN Holdings, Inc. has a 12 month low of $6.93 and a 12 month high of $11.10.

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

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.