ADTRAN Holdings, Inc. $ADTN is Divisar Capital Management LLC’s 2nd Largest Position

Divisar Capital Management LLC lowered its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 24.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,213,090 shares of the communications equipment provider’s stock after selling 1,016,272 shares during the quarter. ADTRAN accounts for 8.2% of Divisar Capital Management LLC’s holdings, making the stock its 2nd largest holding. Divisar Capital Management LLC owned 4.01% of ADTRAN worth $30,139,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Cape Investment Advisory Inc. acquired a new stake in shares of ADTRAN during the 2nd quarter worth about $27,000. State of Alaska Department of Revenue acquired a new position in ADTRAN in the third quarter valued at about $36,000. Skaana Management L.P. purchased a new position in ADTRAN during the third quarter worth about $99,000. Stoneridge Investment Partners LLC purchased a new position in ADTRAN during the third quarter worth about $100,000. Finally, Vident Advisory LLC acquired a new stake in shares of ADTRAN during the second quarter valued at about $130,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

ADTRAN Trading Down 0.7%

NASDAQ ADTN opened at $9.94 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The firm has a market cap of $801.76 million, a price-to-earnings ratio of -19.49 and a beta of 1.37. The firm has a 50 day simple moving average of $9.70 and a 200-day simple moving average of $9.19. ADTRAN Holdings, Inc. has a one year low of $6.93 and a one year high of $11.10.

ADTRAN (NASDAQ:ADTN) last announced its earnings results 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 firm had revenue of $291.56 million for the quarter, compared to the consensus estimate of $281.12 million. The firm’s revenue was up 20.0% on a year-over-year basis. Equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS 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.