Paradigm Capital Management Inc. NY Reduces Stock Holdings in ADTRAN Holdings, Inc. $ADTN

Paradigm Capital Management Inc. NY reduced its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 733,200 shares of the communications equipment provider’s stock after selling 396,709 shares during the quarter. Paradigm Capital Management Inc. NY owned 0.91% of ADTRAN worth $9,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADTN. Arrowstreet Capital Limited Partnership boosted its holdings in shares of ADTRAN by 60.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider’s stock worth $5,732,000 after buying an additional 171,145 shares during the last quarter. Caxton Associates LLP bought a new position in ADTRAN in the first quarter worth approximately $308,000. Sei Investments Co. boosted its stake in shares of ADTRAN by 162.0% during the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after acquiring an additional 683,262 shares during the last quarter. Group One Trading LLC lifted its position in ADTRAN by 2,003.7% during the first quarter. Group One Trading LLC now owns 26,275 shares of the communications equipment provider’s stock valued at $331,000 after purchasing an additional 25,026 shares in the last quarter. Finally, Lido Advisors LLC increased its position in ADTRAN by 42.5% in the first quarter. Lido Advisors LLC now owns 129,330 shares of the communications equipment provider’s stock worth $1,627,000 after buying an additional 38,552 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

More ADTRAN News

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: ADTRAN announced a new senior secured credit facility led by JPMorgan Chase, which should improve liquidity, lower borrowing costs, and give the company more financial flexibility. ADTRAN Strengthens Capital Structure with New Senior Secured Credit Facility
• Positive Sentiment: B. Riley and Rosenblatt both reiterated buy ratings on ADTRAN, signaling that some analysts still see substantial upside from current levels, even though B. Riley trimmed its price target.
• Neutral Sentiment: Needham lowered its price target on ADTRAN but kept a buy rating, which suggests valuation expectations have become more cautious while the longer-term outlook remains constructive.
• Negative Sentiment: A PR Newswire notice says Levi & Korsinsky is investigating whether ADTRAN adequately disclosed risks tied to customer project timing and the impact on revenue and operating results, adding a legal overhang. ADTRAN Holdings Investigation Notice
• Negative Sentiment: Investor concern may also be amplified by reports that the company’s latest preliminary results missed guidance, reinforcing worries about near-term execution and demand visibility.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADTN. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Monday, July 20th. Northland Securities set a $18.00 price objective on shares of ADTRAN in a research note on Wednesday, May 6th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of ADTRAN in a research report on Thursday. Needham & Company LLC lowered their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 target price (down from $23.00) on shares of ADTRAN in a report on Thursday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $9.85 on Friday. The firm has a market cap of $802.28 million, a price-to-earnings ratio of -25.26 and a beta of 1.44. The firm has a fifty day moving average price of $14.30 and a 200 day moving average price of $12.74. ADTRAN Holdings, Inc. has a fifty-two week low of $7.11 and a fifty-two week high of $19.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

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 business had revenue of $286.09 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same quarter in the previous year, the company earned $0.03 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

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.