Inspire Investing LLC increased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) by 241.6% during the first quarter, HoldingsChannel reports. The fund owned 182,522 shares of the communications equipment provider’s stock after buying an additional 129,088 shares during the period. Inspire Investing LLC’s holdings in ADTRAN were worth $2,296,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ADTN. Quarry LP acquired a new stake in shares of ADTRAN in the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC acquired a new position in shares of ADTRAN during the fourth quarter worth about $36,000. ST Germain D J Co. Inc. grew its holdings in shares of ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN during the fourth quarter worth about $47,000. Finally, Freestone Grove Partners LP acquired a new stake in ADTRAN in the 4th quarter valued at approximately $87,000. 80.56% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Wall Street Zen downgraded shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Northland Securities set a $18.00 price objective on shares of ADTRAN in a research report on Wednesday, May 6th. Argus raised shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Hold” and a consensus price target of $18.00.
ADTRAN Stock Performance
Shares of NASDAQ ADTN opened at $13.90 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The stock has a 50 day moving average price of $15.73 and a 200 day moving average price of $12.33. The stock has a market capitalization of $1.13 billion, a PE ratio of -35.64 and a beta of 1.42. ADTRAN Holdings, Inc. has a 52 week low of $7.11 and a 52 week high of $19.98.
ADTRAN (NASDAQ:ADTN – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. Analysts predict that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current fiscal 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.
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