132,526 Shares in ADTRAN Holdings, Inc. $ADTN Purchased by Globeflex Capital L P

Globeflex Capital L P acquired a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 132,526 shares of the communications equipment provider’s stock, valued at approximately $1,842,000. Globeflex Capital L P owned about 0.16% of ADTRAN as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ADTN. BlackRock Inc. bought a new stake in shares of ADTRAN during the 2nd quarter worth about $108,923,000. DNB Asset Management AS increased its position in shares of ADTRAN by 7.6% during the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock valued at $27,145,000 after purchasing an additional 219,810 shares during the period. Millennium Management LLC increased its position in shares of ADTRAN by 371.2% during the 4th quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock valued at $23,418,000 after purchasing an additional 2,122,844 shares during the period. Royce & Associates LP raised its stake in shares of ADTRAN by 7.7% in the 4th quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock worth $22,568,000 after buying an additional 186,238 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of ADTRAN by 4.5% in the fourth quarter. State Street Corp now owns 1,985,890 shares of the communications equipment provider’s stock valued at $17,257,000 after buying an additional 86,382 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Down 0.8%

Shares of NASDAQ:ADTN opened at $7.71 on Tuesday. The firm has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $12.61. ADTRAN Holdings, Inc. has a 52 week low of $7.11 and a 52 week high of $19.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79. The company has a market cap of $628.22 million, a PE ratio of -27.53 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $281.15 million for the quarter, compared to analysts’ expectations of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts expect that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADTN has been the topic of a number of research analyst reports. Craig Hallum set a $12.00 target price on ADTRAN in a report on Wednesday, August 5th. Rosenblatt Securities cut their price target on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Needham & Company LLC reduced their price objective on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Northland Securities set a $15.00 price objective on shares of ADTRAN in a research note on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.67.

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.