Dimensional Fund Advisors LP Boosts Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Dimensional Fund Advisors LP increased its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 42.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,935 shares of the communications equipment provider's stock after acquiring an additional 186,074 shares during the quarter. Dimensional Fund Advisors LP owned about 0.79% of ADTRAN worth $5,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADTN. Barclays PLC increased its position in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock worth $686,000 after purchasing an additional 11,880 shares in the last quarter. JPMorgan Chase & Co. increased its position in ADTRAN by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock valued at $741,000 after buying an additional 13,478 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in ADTRAN by 39.7% in 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 during the last quarter. SG Americas Securities LLC boosted its holdings in ADTRAN by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock worth $295,000 after acquiring an additional 7,011 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its holdings in ADTRAN by 2.7% in the fourth quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider's stock worth $6,664,000 after acquiring an additional 21,100 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

ADTRAN Stock Performance

Shares of ADTRAN stock traded down $0.06 on Friday, reaching $8.13. 530,245 shares of the stock were exchanged, compared to its average volume of 935,868. The business has a 50 day moving average price of $8.17 and a two-hundred day moving average price of $8.86. The firm has a market capitalization of $650.09 million, a price-to-earnings ratio of -1.25 and a beta of 1.33. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 earnings per share. Analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADTN. Rosenblatt Securities decreased their price objective on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC cut their price target on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

ADTRAN Company Profile

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.