JPMorgan Chase & Co. Buys 356,884 Shares of ADTRAN Holdings, Inc. $ADTN

JPMorgan Chase & Co. increased its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 78.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 813,363 shares of the communications equipment provider’s stock after buying an additional 356,884 shares during the period. JPMorgan Chase & Co.’s holdings in ADTRAN were worth $7,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL boosted its position in ADTRAN by 434.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after buying an additional 729,194 shares during the period. Worth Venture Partners LLC increased its position in shares of ADTRAN by 296.1% during the third quarter. Worth Venture Partners LLC now owns 144,431 shares of the communications equipment provider’s stock worth $1,355,000 after acquiring an additional 107,964 shares during the period. PharVision Advisers LLC purchased a new position in shares of ADTRAN during the third quarter worth approximately $221,000. XTX Topco Ltd raised its stake in shares of ADTRAN by 142.2% during the third quarter. XTX Topco Ltd now owns 59,657 shares of the communications equipment provider’s stock valued at $560,000 after acquiring an additional 35,027 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of ADTRAN during the third quarter valued at approximately $10,168,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADTN shares. Argus raised ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of ADTRAN in a research report on Thursday, February 26th. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Finally, Rosenblatt Securities increased their price target on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ADTRAN has a consensus rating of “Hold” and an average target price of $15.33.

ADTRAN Price Performance

Shares of ADTN opened at $12.19 on Tuesday. 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 company has a 50 day moving average price of $10.35 and a 200-day moving average price of $9.36. ADTRAN Holdings, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $13.10. The stock has a market capitalization of $983.25 million, a PE ratio of -23.90 and a beta of 1.37.

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