ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by Barclays PLC

Barclays PLC raised its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 134.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 271,814 shares of the communications equipment provider's stock after buying an additional 156,073 shares during the period. Barclays PLC owned approximately 0.34% of ADTRAN worth $2,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADTN. JPMorgan Chase & Co. increased its stake in shares of ADTRAN by 591.5% during the fourth quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider's stock valued at $7,196,000 after acquiring an additional 738,893 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of ADTRAN in the 4th quarter worth $6,095,000. Royce & Associates LP acquired a new stake in shares of ADTRAN in the fourth quarter valued at $4,061,000. Assenagon Asset Management S.A. boosted its stake in ADTRAN by 39.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock valued at $7,708,000 after buying an additional 263,156 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in ADTRAN in the fourth quarter worth about $2,146,000. 80.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ADTN shares. Needham & Company LLC boosted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price target on the stock. Finally, Rosenblatt Securities reduced their price objective on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ADTRAN presently has an average rating of "Buy" and a consensus price target of $12.50.

ADTRAN Stock Down 1.2 %

Shares of ADTRAN stock opened at $7.66 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $12.44. The stock has a 50-day moving average price of $8.64 and a 200 day moving average price of $8.73. The company has a market cap of $612.51 million, a P/E ratio of -1.18 and a beta of 1.46.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.

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