Dimensional Fund Advisors LP Buys 448,848 Shares of ADTRAN Holdings, Inc. $ADTN

Key Points

• Dimensional Fund Advisors increased its ADTRAN stake by 50.5%, purchasing 448,848 additional shares to hold 1.34 million shares, or 1.66% of the company. Institutional investors collectively own 80.56% of ADTRAN.
• Analyst sentiment is mixed, with four Buy ratings, one Hold and two Sell ratings. The consensus rating is Hold, with an average price target of $14.67.
• ADTRAN’s shares opened at $7.56, well below their 52-week high of $19.98, after the company reported quarterly EPS of $0.04 versus expectations of $0.10 and revenue of $281.15 million, though revenue increased 6% year over year.

Dimensional Fund Advisors LP grew its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 50.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,337,028 shares of the communications equipment provider's stock after acquiring an additional 448,848 shares during the quarter. Dimensional Fund Advisors LP owned 1.66% of ADTRAN worth $16,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ADTN. Quarry LP bought a new position in shares of ADTRAN during the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new position in shares of ADTRAN in the fourth quarter valued at approximately $36,000. ST Germain D J Co. Inc. grew its holdings in shares of ADTRAN by 100.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider's stock valued at $43,000 after acquiring an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ADTRAN during the fourth quarter valued at approximately $47,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of ADTRAN during the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

ADTN has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their price target on ADTRAN from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Northland Securities set a $15.00 target price on ADTRAN in a research report on Wednesday. Evercore set a $11.00 target price on ADTRAN in a research note on Wednesday. Weiss Ratings reissued a "sell (d-)" rating on shares of ADTRAN in a report on Tuesday, June 30th. Finally, Craig Hallum set a $12.00 price target on shares of ADTRAN in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $14.67.

ADTRAN Trading Up 0.9%

NASDAQ:ADTN opened at $7.56 on Friday. ADTRAN Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $19.98. The stock's fifty day moving average price is $12.79 and its two-hundred day moving average price is $12.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.18. The company has a market cap of $615.99 million, a P/E ratio of -27.00 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The company had revenue of $281.15 million during the quarter, compared to analysts' expectations of $290.19 million. The company's revenue was up 6.0% compared to the same quarter last year. As a group, analysts expect that ADTRAN Holdings, Inc. will post 0.23 EPS for the current year.

ADTRAN Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company's product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.

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