Swiss National Bank Makes New $1.27 Million Investment in ADTRAN Holdings, Inc. $ADTN

Key Points

• The Swiss National Bank acquired a new stake in ADTRAN Holdings, Inc., purchasing 146,000 shares valued at approximately $1,273,000 during the first quarter.
• ADTRAN's stock was recently downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, and the average target price is set at $12.00.
• Despite a 17.3% year-over-year increase in revenue, ADTRAN reported a loss of $0.26 earnings per share for the recent quarter, falling short of expectations.

Swiss National Bank bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 146,000 shares of the communications equipment provider's stock, valued at approximately $1,273,000. Swiss National Bank owned about 0.18% of ADTRAN as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADTN. Aquatic Capital Management LLC raised its position in shares of ADTRAN by 1,572.5% in 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 during the period. FNY Investment Advisers LLC bought a new stake in shares of ADTRAN in the first quarter valued at approximately $65,000. Ballentine Partners LLC bought a new stake in shares of ADTRAN in the first quarter valued at approximately $94,000. CWM LLC raised its position in shares of ADTRAN by 159.6% in the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock valued at $116,000 after purchasing an additional 8,214 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of ADTRAN by 11.4% in the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after purchasing an additional 1,501 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Price Performance

ADTRAN stock traded down $0.07 during midday trading on Friday, reaching $9.38. 1,258,750 shares of the stock were exchanged, compared to its average volume of 988,192. The company's fifty day moving average is $9.11 and its 200-day moving average is $8.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The firm has a market cap of $750.21 million, a PE ratio of -7.16 and a beta of 1.39. ADTRAN Holdings, Inc. has a 52 week low of $4.93 and a 52 week high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). The firm had revenue of $265.07 million for the quarter, compared to the consensus estimate of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The business's revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS. On average, sell-side analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

ADTN has been the topic of several research reports. Wolfe Research initiated coverage on shares of ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Needham & Company LLC lowered their price target on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, ADTRAN has an average rating of "Moderate Buy" and a consensus price target of $12.00.

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.