Royce & Associates LP Acquires 186,238 Shares of ADTRAN Holdings, Inc. $ADTN

Royce & Associates LP increased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,597,013 shares of the communications equipment provider’s stock after purchasing an additional 186,238 shares during the period. Royce & Associates LP owned approximately 3.24% of ADTRAN worth $22,568,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of ADTRAN by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock valued at $78,635,000 after purchasing an additional 217,148 shares in the last quarter. DNB Asset Management AS lifted its holdings 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 valued at $27,145,000 after purchasing an additional 219,810 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of ADTRAN by 2.2% during the 4th quarter. First Eagle Investment Management LLC now owns 1,235,207 shares of the communications equipment provider’s stock valued at $10,734,000 after purchasing an additional 26,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of ADTRAN by 21.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,129,047 shares of the communications equipment provider’s stock valued at $9,811,000 after purchasing an additional 196,367 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of ADTRAN during the 3rd quarter valued at about $10,168,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADTN. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. Evercore began coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Northland Securities set a $18.00 target price on ADTRAN in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ADTRAN has a consensus rating of “Hold” and an average price target of $18.00.

ADTRAN Trading Up 5.2%

Shares of ADTRAN stock opened at $16.49 on Wednesday. ADTRAN Holdings, Inc. has a 12-month low of $7.11 and a 12-month high of $18.69. The stock has a market cap of $1.34 billion, a P/E ratio of -42.28 and a beta of 1.45. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average is $14.58 and its 200-day moving average is $10.99.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data 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 positive return on equity of 10.94% and a negative net margin of 3.18%.The company had revenue of $286.09 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that ADTRAN Holdings, Inc. will post 0.39 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.