Kovack Advisors Inc. Decreases Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Kovack Advisors Inc. lessened its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,250 shares of the communications equipment provider's stock after selling 108,700 shares during the quarter. Kovack Advisors Inc. owned about 0.86% of ADTRAN worth $6,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADTN. Vanguard Group Inc. raised its holdings in shares of ADTRAN by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,592,419 shares of the communications equipment provider's stock worth $54,915,000 after acquiring an additional 41,478 shares during the last quarter. DnB Asset Management AS increased its stake in ADTRAN by 3.8% in the 4th quarter. DnB Asset Management AS now owns 5,022,392 shares of the communications equipment provider's stock valued at $41,837,000 after buying an additional 184,627 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in ADTRAN in the 4th quarter valued at about $12,921,000. JPMorgan Chase & Co. increased its stake in shares of ADTRAN by 591.5% during the 4th quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider's stock worth $7,196,000 after purchasing an additional 738,893 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of ADTRAN during the 4th quarter worth approximately $6,095,000. Institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ADTN shares. Needham & Company LLC decreased their price target 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. Rosenblatt Securities decreased their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of ADTRAN from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Finally, Wolfe Research began coverage on shares of ADTRAN in a report on Monday, July 7th. They issued a "peer perform" rating for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

ADTRAN Price Performance

NASDAQ:ADTN traded up $0.06 during trading hours on Friday, hitting $9.23. The stock had a trading volume of 797,008 shares, compared to its average volume of 1,346,082. The company has a 50 day simple moving average of $8.61 and a two-hundred day simple moving average of $9.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. ADTRAN Holdings, Inc. has a one year low of $4.62 and a one year high of $12.44. The firm has a market capitalization of $738.22 million, a price-to-earnings ratio of -5.43 and a beta of 1.32.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. The business's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS. Research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

About ADTRAN

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.