Niles Investment Management LLC bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 149,494 shares of the communications equipment provider’s stock, valued at approximately $1,299,000. ADTRAN makes up approximately 1.0% of Niles Investment Management LLC’s holdings, making the stock its 16th largest holding. Niles Investment Management LLC owned approximately 0.19% of ADTRAN at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADTN. Quarry LP bought a new stake in ADTRAN in the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC bought a new stake in ADTRAN in the 4th quarter valued at about $36,000. ST Germain D J Co. Inc. increased its position in ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN in the 4th quarter valued at about $47,000. Finally, Skaana Management L.P. bought a new stake in ADTRAN in the 3rd quarter valued at about $99,000. 80.56% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on ADTN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a research report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Argus raised ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Finally, Rosenblatt Securities increased their price objective on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.
ADTRAN Stock Performance
Shares of ADTRAN stock opened at $15.26 on Friday. The company has a market cap of $1.24 billion, a PE ratio of -39.13 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. The business has a 50 day moving average price of $15.74 and a 200-day moving average price of $11.77. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59.
ADTRAN (NASDAQ:ADTN – Get Free Report) last announced its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The firm had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. Equities analysts anticipate that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.
About ADTRAN
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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