VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 64,800 ADTRAN Holdings, Inc. $ADTN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 64,800 shares of the communications equipment provider’s stock, valued at approximately $563,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of ADTRAN as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Versor Investments LP boosted its position in shares of ADTRAN by 286.0% in the fourth quarter. Versor Investments LP now owns 60,600 shares of the communications equipment provider’s stock valued at $527,000 after acquiring an additional 44,900 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of ADTRAN by 2.2% in the 4th quarter. First Eagle Investment Management LLC now owns 1,235,207 shares of the communications equipment provider’s stock worth $10,734,000 after buying an additional 26,000 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of ADTRAN by 100.0% during 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. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ADTRAN by 32.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,760 shares of the communications equipment provider’s stock worth $163,000 after purchasing an additional 4,574 shares during the period. Finally, SG Americas Securities LLC grew its position in ADTRAN by 324.3% during the fourth quarter. SG Americas Securities LLC now owns 857,044 shares of the communications equipment provider’s stock valued at $7,448,000 after buying an additional 655,058 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

NASDAQ ADTN opened at $14.96 on Tuesday. 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 Holdings, Inc. has a fifty-two week low of $7.11 and a fifty-two week high of $18.69. The company has a market cap of $1.21 billion, a P/E ratio of -38.36 and a beta of 1.45. The business’s 50 day moving average price is $13.94 and its 200-day moving average price is $10.75.

ADTRAN (NASDAQ:ADTN) last announced 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 during the quarter, compared to analysts’ expectations of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Sell-side analysts predict that ADTRAN Holdings, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADTN has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Evercore started coverage on ADTRAN in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday. Northland Securities set a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. 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.com, the stock has a consensus rating of “Hold” and an average target price of $18.00.

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.