First Eagle Investment Management LLC Trims Stock Holdings in ADTRAN Holdings, Inc. $ADTN

First Eagle Investment Management LLC reduced its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 0.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,133,607 shares of the communications equipment provider’s stock after selling 10,500 shares during the period. First Eagle Investment Management LLC’s holdings in ADTRAN were worth $10,168,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ADTN. Vanguard Group Inc. increased its stake in ADTRAN by 7.6% in the first quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider’s stock worth $61,859,000 after purchasing an additional 501,512 shares during the period. Royce & Associates LP boosted its stake in shares of ADTRAN by 188.5% during the first quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider’s stock valued at $12,265,000 after purchasing an additional 919,000 shares during the period. Invesco Ltd. grew its holdings in shares of ADTRAN by 325.4% in the first quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock worth $10,317,000 after purchasing an additional 905,056 shares during the last quarter. Kovack Advisors Inc. increased its stake in ADTRAN by 3.3% in the 2nd quarter. Kovack Advisors Inc. now owns 714,200 shares of the communications equipment provider’s stock worth $6,406,000 after buying an additional 22,950 shares during the period. Finally, 1492 Capital Management LLC increased its stake in ADTRAN by 31.9% in the 1st quarter. 1492 Capital Management LLC now owns 480,248 shares of the communications equipment provider’s stock worth $4,188,000 after buying an additional 116,192 shares during the period. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

ADTN has been the subject of several research reports. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ADTRAN in a research note on Wednesday, October 8th. B. Riley assumed coverage on ADTRAN in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a report on Wednesday. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.80.

ADTRAN Trading Down 0.7%

NASDAQ:ADTN opened at $7.97 on Friday. The firm has a 50-day simple moving average of $9.43 and a 200-day simple moving average of $8.87. ADTRAN Holdings, Inc. has a one year low of $6.93 and a one year high of $12.44. The firm has a market cap of $637.42 million, a P/E ratio of -6.08 and a beta of 1.41. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share (EPS) for the quarter. The firm had revenue of $358.27 million for the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. Equities analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

ADTRAN Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.