ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,878 shares of the communications equipment provider's stock after buying an additional 37,311 shares during the period. Northern Trust Corp owned about 0.86% of ADTRAN worth $5,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ADTN. Aquatic Capital Management LLC lifted its holdings in ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 6,290 shares in the last quarter. SIH Partners LLLP purchased a new stake in ADTRAN during the 4th quarter worth approximately $107,000. Hsbc Holdings PLC raised its holdings in shares of ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after acquiring an additional 1,501 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of ADTRAN by 104.5% in the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after acquiring an additional 7,636 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in ADTRAN in the 4th quarter valued at $140,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADTN. Rosenblatt Securities decreased their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC lowered 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN Trading Down 0.9%

ADTRAN stock traded down $0.07 during midday trading on Monday, hitting $7.80. 446,664 shares of the stock were exchanged, compared to its average volume of 937,632. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $623.83 million, a price-to-earnings ratio of -1.20 and a beta of 1.33. The stock's 50-day simple moving average is $8.03 and its 200 day simple moving average is $8.96. ADTRAN Holdings, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. The firm's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. On average, equities analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current 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.