ADTRAN Holdings, Inc. $ADTN Position Boosted by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL raised its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 434.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 897,115 shares of the communications equipment provider’s stock after purchasing an additional 729,194 shares during the quarter. Tudor Investment Corp ET AL’s holdings in ADTRAN were worth $8,415,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in ADTRAN by 2.7% during the third quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock worth $78,635,000 after acquiring an additional 217,148 shares during the period. DNB Asset Management AS boosted its holdings in shares of ADTRAN by 6.4% in the third quarter. DNB Asset Management AS now owns 2,903,869 shares of the communications equipment provider’s stock valued at $27,238,000 after acquiring an additional 174,354 shares in the last quarter. Royce & Associates LP raised its stake in shares of ADTRAN by 14.7% in the 3rd quarter. Royce & Associates LP now owns 2,410,775 shares of the communications equipment provider’s stock worth $22,613,000 after buying an additional 308,705 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in ADTRAN by 6.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,209,207 shares of the communications equipment provider’s stock valued at $11,342,000 after acquiring an additional 75,600 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in ADTRAN during the third quarter worth approximately $10,168,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $11.46 on Monday. The firm has a market capitalization of $924.36 million, a PE ratio of -22.47 and a beta of 1.37. ADTRAN Holdings, Inc. has a 1 year low of $6.93 and a 1 year high of $12.29. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 1.50. The firm’s fifty day simple moving average is $9.93 and its 200 day simple moving average is $9.26.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $291.56 million during the quarter, compared to analysts’ expectations of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADTN shares. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of ADTRAN in a research report on Thursday, February 26th. Wall Street Zen cut shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities increased their price target on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Argus raised shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.33.

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.