Hillsdale Investment Management Inc. Has $288,000 Position in ADTRAN Holdings, Inc. $ADTN

Hillsdale Investment Management Inc. lessened its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTNFree Report) by 95.4% in the first quarter, HoldingsChannel.com reports. The firm owned 22,900 shares of the communications equipment provider’s stock after selling 471,350 shares during the period. Hillsdale Investment Management Inc.’s holdings in ADTRAN were worth $288,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in shares of ADTRAN by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after buying an additional 1,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after acquiring an additional 1,946 shares in the last quarter. Occudo Quantitative Strategies LP raised its holdings in shares of ADTRAN by 3.2% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock worth $616,000 after acquiring an additional 2,016 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of ADTRAN by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock worth $1,632,000 after acquiring an additional 2,068 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted 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 acquiring an additional 2,500 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Down 0.5%

ADTRAN stock opened at $11.65 on Friday. ADTRAN Holdings, Inc. has a fifty-two week low of $7.11 and a fifty-two week high of $19.98. 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 firm’s 50-day simple moving average is $14.75 and its 200 day simple moving average is $12.67. The stock has a market cap of $943.65 million, a PE ratio of -29.87 and a beta of 1.44.

ADTRAN (NASDAQ:ADTNGet Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS 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 business had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same period last year, the company posted $0.03 earnings per share. ADTRAN’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts predict that ADTRAN Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADTN. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of ADTRAN in a research note on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Northland Securities set a $18.00 target price on ADTRAN in a research report on Wednesday, May 6th. Wall Street Zen downgraded ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Rosenblatt Securities increased their price target on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Four equities research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Get Our Latest Research Report on ADTRAN

ADTRAN Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ADTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADTRAN Holdings, Inc. (NASDAQ:ADTNFree Report).

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.