ADTRAN, Inc. (ADTN) Stake Lifted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lifted its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,459,427 shares of the communications equipment provider’s stock after purchasing an additional 182,298 shares during the quarter. Dimensional Fund Advisors LP owned 0.07% of ADTRAN worth $51,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of ADTRAN by 4.1% in the second quarter. Legal & General Group Plc now owns 102,355 shares of the communications equipment provider’s stock worth $1,517,000 after purchasing an additional 4,017 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of ADTRAN in the first quarter worth $122,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of ADTRAN in the second quarter worth $151,000. Victory Capital Management Inc. raised its stake in shares of ADTRAN by 0.4% in the second quarter. Victory Capital Management Inc. now owns 3,064,328 shares of the communications equipment provider’s stock worth $45,505,000 after purchasing an additional 11,178 shares during the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of ADTRAN in the second quarter worth $168,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.
Several research firms have recently weighed in on ADTN. MKM Partners boosted their price target on ADTRAN from $21.00 to $22.00 in a research note on Thursday, September 13th. Bank of America upgraded ADTRAN from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 13th. ValuEngine upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Northland Securities cut ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 price objective for the company. in a research report on Wednesday, July 18th. Finally, BidaskClub upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.04.
ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, July 17th. The communications equipment provider reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The company had revenue of $128.05 million during the quarter, compared to analysts’ expectations of $127.80 million. ADTRAN had a negative return on equity of 0.56% and a negative net margin of 2.15%. During the same quarter in the prior year, the business earned $0.26 earnings per share. research analysts anticipate that ADTRAN, Inc. will post -0.44 earnings per share for the current year.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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