Atom Investors LP Buys 261,737 Shares of ADTRAN Holdings, Inc. $ADTN

Atom Investors LP raised its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 146.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 439,946 shares of the communications equipment provider’s stock after purchasing an additional 261,737 shares during the quarter. Atom Investors LP’s holdings in ADTRAN were worth $3,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in ADTRAN by 2.7% in the third quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock valued at $78,635,000 after purchasing an additional 217,148 shares in the last quarter. DNB Asset Management AS grew its stake in ADTRAN by 7.6% in the fourth 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 in the last quarter. Royce & Associates LP grew its stake in ADTRAN by 7.7% in the fourth quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock valued at $22,568,000 after purchasing an additional 186,238 shares in the last quarter. State Street Corp grew its stake in 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 purchasing an additional 86,382 shares in the last quarter. Finally, Needham Investment Management LLC grew its stake in ADTRAN by 23.2% in the fourth quarter. Needham Investment Management LLC now owns 1,447,500 shares of the communications equipment provider’s stock valued at $12,579,000 after purchasing an additional 272,500 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Rosenblatt Securities lifted their target price on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 17th. Argus upgraded ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a report on Thursday, April 2nd. Finally, B. Riley Financial restated a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ADTRAN has a consensus rating of “Hold” and an average price target of $18.00.

ADTRAN Stock Performance

NASDAQ ADTN opened at $14.79 on Wednesday. The stock has a market cap of $1.20 billion, a PE ratio of -37.92 and a beta of 1.42. The firm has a 50-day moving average of $15.82 and a 200-day moving average of $11.90. 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 Holdings, Inc. has a 52-week low of $7.11 and a 52-week high of $19.98.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $286.09 million during the quarter, compared to the consensus estimate of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. On average, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post 0.43 EPS for the current 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.