ADTRAN Holdings, Inc. (NASDAQ:ADTN) Holdings Lifted by Royce & Associates LP

Key Points

• Royce & Associates LP significantly increased its stake in ADTRAN Holdings, boosting their holdings by 188.5% during the first quarter, now owning approximately 1.76% of the company worth $12.3 million.
• ADTRAN reported a 9.5% increase in quarterly revenue year-over-year and exceeded analyst expectations with an EPS of $0.03 for the latest quarter.
• Institutional investors own 80.56% of ADTRAN's stock, reflecting strong institutional interest in the company, while analysts give it a consensus rating of "Moderate Buy".

Royce & Associates LP boosted its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 188.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,406,500 shares of the communications equipment provider's stock after acquiring an additional 919,000 shares during the quarter. Royce & Associates LP owned about 1.76% of ADTRAN worth $12,265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Aquatic Capital Management LLC boosted its holdings in shares of ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after buying an additional 6,290 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of ADTRAN in the first quarter worth $65,000. Ballentine Partners LLC purchased a new position in shares of ADTRAN during the first quarter valued at $94,000. SIH Partners LLLP purchased a new position in ADTRAN during the 4th quarter valued at about $107,000. Finally, CWM LLC increased its holdings in shares of ADTRAN by 159.6% in the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock valued at $116,000 after purchasing an additional 8,214 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $9.23 on Friday. The business has a 50 day moving average price of $8.61 and a 200 day moving average price of $9.04. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44. The company has a market cap of $738.22 million, a price-to-earnings ratio of -5.43 and a beta of 1.32. The company has a quick ratio of 1.18, a current ratio of 2.02 and a debt-to-equity ratio of 1.37.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on ADTN. Wall Street Zen upgraded shares of ADTRAN from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Rosenblatt Securities dropped their price objective on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wolfe Research initiated coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Needham & Company LLC reduced their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, ADTRAN has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN 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.

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