Royce & Associates LP Buys 186,238 Shares of ADTRAN Holdings, Inc. $ADTN

Royce & Associates LP lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,597,013 shares of the communications equipment provider’s stock after purchasing an additional 186,238 shares during the period. Royce & Associates LP’s holdings in ADTRAN were worth $22,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADTN. AQR Capital Management LLC raised its stake in shares of ADTRAN by 253.7% during the 1st quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock worth $3,039,000 after purchasing an additional 249,954 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after acquiring an additional 1,946 shares during the period. Legal & General Group Plc raised its stake in ADTRAN by 13.9% in the 2nd quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock valued at $1,018,000 after acquiring an additional 13,821 shares during the period. American Century Companies Inc. raised its stake in ADTRAN by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider’s stock valued at $2,009,000 after acquiring an additional 22,524 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in ADTRAN by 17.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock valued at $793,000 after acquiring an additional 13,222 shares during the period. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

ADTN has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Wall Street Zen cut 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. Rosenblatt Securities increased their price target on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Evercore initiated coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Four 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 stock. According to MarketBeat, ADTRAN presently has an average rating of “Hold” and an average target price of $18.00.

ADTRAN Stock Up 5.2%

ADTN stock opened at $16.49 on Wednesday. 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 stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -42.28 and a beta of 1.45. The business’s fifty day moving average price is $14.58 and its two-hundred day moving average price is $10.99.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $286.09 million during the quarter, compared to analysts’ expectations of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. ADTRAN’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. On average, equities analysts anticipate that ADTRAN Holdings, Inc. will post 0.39 earnings per share for the current year.

ADTRAN Company 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.