Teacher Retirement System of Texas Makes New Investment in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Teacher Retirement System of Texas purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,406 shares of the communications equipment provider's stock, valued at approximately $570,000. Teacher Retirement System of Texas owned 0.08% of ADTRAN at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ADTN. Lisanti Capital Growth LLC acquired a new position in shares of ADTRAN in the first quarter worth about $1,880,000. Koesten Hirschmann & Crabtree INC. grew its holdings in shares of ADTRAN by 30.2% during the first quarter. Koesten Hirschmann & Crabtree INC. now owns 70,448 shares of the communications equipment provider's stock valued at $614,000 after purchasing an additional 16,349 shares during the last quarter. FNY Investment Advisers LLC bought a new position in ADTRAN in the 1st quarter worth approximately $65,000. SG Americas Securities LLC grew its holdings in ADTRAN by 560.1% in the 1st quarter. SG Americas Securities LLC now owns 233,837 shares of the communications equipment provider's stock worth $2,039,000 after buying an additional 198,413 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in ADTRAN by 762.1% during the 1st quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 24,182 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADTN. Wall Street Zen downgraded shares of ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Wolfe Research started coverage on ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Rosenblatt Securities reduced their target price 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. Finally, Needham & Company LLC reduced their target price 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $12.00.

ADTRAN Stock Down 1.6%

NASDAQ:ADTN traded down $0.15 on Friday, hitting $9.41. 1,267,648 shares of the company's stock were exchanged, compared to its average volume of 875,412. The firm has a 50-day moving average price of $8.47 and a 200-day moving average price of $9.02. 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 52 week low of $4.62 and a 52 week high of $12.44. The company has a market cap of $752.61 million, a P/E ratio of -5.54 and a beta of 1.32.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results 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 net margin of 14.58% and a negative return on equity of 20.07%. During the same period last year, the company posted $0.02 EPS. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

ADTRAN 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.