ADTRAN Holdings, Inc. $ADTN Stock Holdings Trimmed by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in ADTRAN Holdings by 7.0%, now holding 704,272 shares worth approximately $6.14 million.
• During the 1st quarter, other institutional investors significantly increased their positions in ADTRAN, with GAMMA Investing LLC raising its stake by 762.1%.
• ADTRAN's stock opened at $9.34 with a market cap of $747.01 million, despite a reported loss of ($0.26) EPS in its last earnings report.

Charles Schwab Investment Management Inc. lessened its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 704,272 shares of the communications equipment provider's stock after selling 52,626 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.88% of ADTRAN worth $6,141,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ADTN. Vanguard Group Inc. lifted its holdings in ADTRAN by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider's stock worth $61,859,000 after buying an additional 501,512 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in ADTRAN during the 4th quarter worth approximately $12,921,000. Royce & Associates LP lifted its holdings in ADTRAN by 188.5% during the 1st quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider's stock worth $12,265,000 after buying an additional 919,000 shares during the last quarter. Northern Trust Corp lifted its holdings in ADTRAN by 5.8% during the 4th quarter. Northern Trust Corp now owns 681,878 shares of the communications equipment provider's stock worth $5,680,000 after buying an additional 37,311 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in ADTRAN by 20.2% during the 4th quarter. Bank of America Corp DE now owns 634,013 shares of the communications equipment provider's stock worth $5,281,000 after buying an additional 106,601 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Stock Performance

Shares of NASDAQ ADTN traded down $0.07 during mid-day trading on Monday, hitting $9.38. The company had a trading volume of 1,258,750 shares, compared to its average volume of 988,192. The stock has a market cap of $750.21 million, a price-to-earnings ratio of -7.16 and a beta of 1.39. ADTRAN Holdings, Inc. has a 12 month low of $4.93 and a 12 month 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 firm's 50 day simple moving average is $9.11 and its two-hundred day simple moving average is $8.76.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wolfe Research assumed coverage on ADTRAN in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Needham & Company LLC reduced their target price on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen downgraded ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, ADTRAN presently has an average rating of "Moderate Buy" and an average 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.