American Century Companies Inc. Increases Stock Position in ADTRAN Holdings, Inc. $ADTN

Key Points

• American Century Companies Inc. increased its stake in ADTRAN Holdings by 17.1% to own 201,491 shares, valued at approximately $1.76 million.
• Several other institutional investors, including Royce & Associates LP and Invesco Ltd., significantly boosted their holdings in ADTRAN during the first quarter, reflecting a growing interest in the company.
• ADTRAN reported a greater than expected revenue of $265.07 million in its latest earnings report, but missed earnings estimates with an EPS of ($0.26).

American Century Companies Inc. raised its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,491 shares of the communications equipment provider's stock after buying an additional 29,391 shares during the period. American Century Companies Inc. owned about 0.25% of ADTRAN worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Quantinno Capital Management LP raised its holdings in shares of ADTRAN by 4.3% in the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock valued at $176,000 after purchasing an additional 877 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after purchasing an additional 1,501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ADTRAN by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock valued at $373,000 after purchasing an additional 1,605 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of ADTRAN by 5.6% in the 4th quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider's stock valued at $808,000 after purchasing an additional 5,168 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of ADTRAN by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,986 shares of the communications equipment provider's stock valued at $825,000 after purchasing an additional 6,121 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADTN has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of ADTRAN in a research note on Monday, July 7th. They set a "peer perform" rating for the company. Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Needham & Company LLC reduced their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.00.

ADTRAN Stock Performance

NASDAQ:ADTN traded up $0.38 during trading hours on Thursday, hitting $9.66. 1,356,581 shares of the company were exchanged, compared to its average volume of 1,090,255. The stock has a market capitalization of $772.61 million, a price-to-earnings ratio of -7.37 and a beta of 1.39. ADTRAN Holdings, Inc. has a 52-week low of $4.93 and a 52-week high of $12.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The company's 50 day moving average price is $9.15 and its 200-day moving average price is $8.75.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The communications equipment provider reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The business had revenue of $265.07 million during the quarter, compared to analysts' expectations of $255.57 million. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The firm's revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned ($0.24) earnings per share. As a group, research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

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.