William Blair Investment Management LLC Reduces Holdings in ADTRAN Holdings, Inc. $ADTN

William Blair Investment Management LLC trimmed its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 2,478,621 shares of the communications equipment provider’s stock after selling 257,809 shares during the period. William Blair Investment Management LLC’s holdings in ADTRAN were worth $21,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Jefferies Financial Group Inc. purchased a new position in shares of ADTRAN during the 4th quarter worth approximately $111,000. GSA Capital Partners LLP increased its stake in shares of ADTRAN by 130.5% during the 4th quarter. GSA Capital Partners LLP now owns 157,156 shares of the communications equipment provider’s stock worth $1,366,000 after purchasing an additional 88,962 shares in the last quarter. DNB Asset Management AS increased its stake in shares of ADTRAN by 7.6% during the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock worth $27,145,000 after purchasing an additional 219,810 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ADTRAN during the 4th quarter worth approximately $563,000. Finally, Versor Investments LP increased its stake in shares of ADTRAN by 286.0% during the 4th quarter. Versor Investments LP now owns 60,600 shares of the communications equipment provider’s stock worth $527,000 after purchasing an additional 44,900 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADTN has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Argus upgraded shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Evercore assumed coverage on shares of ADTRAN in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. B. Riley Financial restated a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of ADTRAN in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ADTRAN has a consensus rating of “Hold” and an average target price of $18.00.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $15.67 on Tuesday. ADTRAN Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $18.69. The firm’s 50 day moving average price is $14.45 and its 200 day moving average price is $10.93. The firm has a market cap of $1.27 billion, a P/E ratio of -40.18 and a beta of 1.45. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

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, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The firm had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same quarter last year, the business earned $0.03 earnings per share. ADTRAN’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side 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.