Raymond James Financial Inc. Boosts Holdings in ADTRAN Holdings, Inc. $ADTN

Raymond James Financial Inc. grew its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 47.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 380,898 shares of the communications equipment provider's stock after purchasing an additional 123,307 shares during the quarter. Raymond James Financial Inc. owned approximately 0.48% of ADTRAN worth $3,321,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP raised its holdings in shares of ADTRAN by 4.3% during the fourth quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock valued at $176,000 after purchasing an additional 877 shares during the period. Hsbc Holdings PLC raised its holdings in ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after buying an additional 1,501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ADTRAN by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock valued at $373,000 after buying an additional 1,605 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of ADTRAN by 5.6% in the fourth quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider's stock valued at $808,000 after buying an additional 5,168 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of ADTRAN by 6.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,986 shares of the communications equipment provider's stock valued at $825,000 after buying an additional 6,121 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Down 4.0%

Shares of ADTN stock traded down $0.42 on Friday, hitting $10.19. The stock had a trading volume of 84,538 shares, compared to its average volume of 1,078,369. The business has a 50 day moving average of $9.28 and a 200 day moving average of $8.70. The stock has a market cap of $814.90 million, a price-to-earnings ratio of -7.78 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. ADTRAN Holdings, Inc. has a 12-month low of $5.26 and a 12-month high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $265.07 million for the quarter, compared to analysts' expectations of $255.57 million. During the same quarter last year, the business posted ($0.24) EPS. The business's quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADTN. Wolfe Research began coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.00.

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.