Vanguard Group Inc. Has $71.16 Million Position in ADTRAN Holdings, Inc. $ADTN

Vanguard Group Inc. trimmed its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,188,496 shares of the communications equipment provider’s stock after selling 194,809 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of ADTRAN worth $71,158,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in ADTRAN during the 3rd quarter worth approximately $36,000. Quarry LP acquired a new position in ADTRAN during the 3rd quarter worth approximately $36,000. Skaana Management L.P. acquired a new position in ADTRAN during the 3rd quarter worth approximately $99,000. Stoneridge Investment Partners LLC acquired a new position in ADTRAN during the 3rd quarter worth approximately $100,000. Finally, Vident Advisory LLC acquired a new position in ADTRAN during the 2nd quarter worth approximately $130,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Down 3.1%

ADTN opened at $15.28 on Friday. ADTRAN Holdings, Inc. has a fifty-two week low of $7.11 and a fifty-two week high of $18.69. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -39.18 and a beta of 1.45. The company’s 50 day moving average price is $13.75 and its two-hundred day moving average price is $10.68.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The firm had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same period in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, research analysts predict that ADTRAN Holdings, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADTN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Northland Securities set a $18.00 price objective on shares of ADTRAN in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of ADTRAN in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price objective on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.00.

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.