65,406 Shares in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 65,406 shares of the communications equipment provider's stock, valued at approximately $570,000. Teacher Retirement System of Texas owned about 0.08% of ADTRAN at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new stake in ADTRAN during the fourth quarter worth approximately $12,921,000. JPMorgan Chase & Co. increased its stake in ADTRAN by 591.5% during the fourth quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider's stock worth $7,196,000 after acquiring an additional 738,893 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in ADTRAN during the fourth quarter worth approximately $6,095,000. Royce & Associates LP bought a new stake in ADTRAN during the fourth quarter worth approximately $4,061,000. Finally, 1492 Capital Management LLC bought a new stake in ADTRAN during the fourth quarter worth approximately $3,033,000. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities cut their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded ADTRAN from a "hold" rating to a "buy" rating in a report on Sunday. Needham & Company LLC lowered their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Wolfe Research began coverage on ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.00.

ADTRAN Stock Down 1.6%

Shares of ADTN traded down $0.15 during midday trading on Friday, hitting $9.41. 1,269,937 shares of the company's stock traded hands, compared to its average volume of 876,612. ADTRAN Holdings, Inc. has a 1 year low of $4.62 and a 1 year high of $12.44. The firm's fifty day moving average is $8.50 and its 200-day moving average is $9.03. The company has a current ratio of 2.02, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $752.59 million, a price-to-earnings ratio of -5.54 and a beta of 1.32.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. ADTRAN's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. As a group, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current 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.