Invesco Ltd. Raises Stock Position in ADTRAN Holdings, Inc. $ADTN

Key Points

• Invesco Ltd. increased its holdings in ADTRAN Holdings, Inc. by 325.4%, acquiring an additional 905,056 shares, bringing its total to 1,183,180 shares, valued at approximately $10.3 million.
• ADTRAN reported a quarterly loss of ($0.26) EPS, missing analysts' expectations, but achieved a 17.3% year-over-year revenue growth with $265.07 million in revenue for the quarter.
• Institutional investors own 80.56% of ADTRAN's stock, with notable positions held by firms like Vanguard and Royce & Associates, indicating strong institutional interest in the company.

Invesco Ltd. grew its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 325.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,183,180 shares of the communications equipment provider's stock after purchasing an additional 905,056 shares during the period. Invesco Ltd. owned approximately 1.48% of ADTRAN worth $10,317,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADTN. Schonfeld Strategic Advisors LLC acquired a new stake in ADTRAN in the fourth quarter worth about $12,921,000. Royce & Associates LP boosted its holdings in ADTRAN by 188.5% in the first quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider's stock worth $12,265,000 after acquiring an additional 919,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in ADTRAN by 7.6% in the first quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider's stock worth $61,859,000 after acquiring an additional 501,512 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in ADTRAN in the fourth quarter worth about $2,146,000. Finally, Crestline Management LP acquired a new stake in ADTRAN in the fourth quarter worth about $1,996,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ADTN shares. Needham & Company LLC dropped their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wolfe Research started coverage on shares of ADTRAN in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, Wall Street Zen lowered shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN Stock Performance

Shares of ADTRAN stock traded up $0.11 during trading on Thursday, hitting $9.45. 689,147 shares of the company's stock were exchanged, compared to its average volume of 1,092,977. The business has a 50-day simple moving average of $9.05 and a 200-day simple moving average of $8.82. ADTRAN Holdings, Inc. has a 52-week low of $4.93 and a 52-week high of $12.44. The stock has a market capitalization of $755.81 million, a price-to-earnings ratio of -7.21 and a beta of 1.30. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96.

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 analysts' consensus estimates of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm had revenue of $265.07 million for the quarter, compared to analysts' expectations of $255.57 million. During the same period last year, the company posted ($0.24) earnings per share. The business's quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS 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.