NFJ Investment Group LLC Buys New Stake in ADTRAN Holdings, Inc. $ADTN

NFJ Investment Group LLC bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 208,413 shares of the communications equipment provider’s stock, valued at approximately $2,897,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of ADTRAN during the second quarter valued at about $108,923,000. Millennium Management LLC grew its position in ADTRAN by 371.2% in the 4th quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock valued at $23,418,000 after buying an additional 2,122,844 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in ADTRAN during the 3rd quarter valued at about $10,168,000. Paradigm Capital Management Inc. NY increased its stake in ADTRAN by 527.7% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,129,909 shares of the communications equipment provider’s stock valued at $9,819,000 after buying an additional 949,909 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of ADTRAN by 5,809.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock worth $7,380,000 after buying an additional 773,509 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

ADTN has been the subject of a number of research analyst reports. Zacks Research lowered shares of ADTRAN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. B. Riley Financial reiterated a “buy” rating and set a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Northland Securities set a $15.00 target price on ADTRAN in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.67.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $7.86 on Friday. ADTRAN Holdings, Inc. has a twelve month low of $7.11 and a twelve month high of $19.98. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average of $11.31 and a 200-day moving average of $12.64. The firm has a market cap of $640.43 million, a price-to-earnings ratio of -28.07 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The business had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that ADTRAN Holdings, Inc. will post 0.16 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.