Vanguard Group Inc. Has $78.64 Million Stock Holdings in ADTRAN Holdings, Inc. $ADTN

Key Points

• Vanguard Group increased its stake in ADTRAN by 2.7% in Q3 to 8,383,305 shares, representing 10.48% of the company and worth about $78.64 million.
• Analyst sentiment is mixed—three Buys, two Holds and one Sell—resulting in a consensus rating of Hold and an average price target of $15.33, with recent upgrades including Rosenblatt raising its target to $16.
• ADTRAN beat the recent quarterly estimates with $0.16 EPS (vs. $0.08 expected) and revenue of $291.6M (up 20% YoY), though the company still shows a negative net margin and is expected to report -$0.50 EPS for the full year.

Vanguard Group Inc. lifted its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,383,305 shares of the communications equipment provider's stock after purchasing an additional 217,148 shares during the period. Vanguard Group Inc. owned 10.48% of ADTRAN worth $78,635,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new stake in shares of ADTRAN in the 3rd quarter valued at $2,443,000. SG Capital Management LLC bought a new stake in ADTRAN during the 2nd quarter worth approximately $7,601,000. Los Angeles Capital Management LLC acquired a new stake in ADTRAN during the 2nd quarter worth approximately $418,000. Hussman Strategic Advisors Inc. acquired a new position in shares of ADTRAN in the third quarter valued at approximately $1,379,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of ADTRAN by 56.4% in the second quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider's stock valued at $5,659,000 after buying an additional 227,448 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ADTN. Wall Street Zen raised ADTRAN from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Rosenblatt Securities upped their target price on ADTRAN from $11.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Argus raised ADTRAN to a "hold" rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of ADTRAN in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $15.33.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $10.06 on Friday. ADTRAN Holdings, Inc. has a 1-year low of $6.93 and a 1-year high of $11.10. The firm has a market cap of $811.44 million, a P/E ratio of -19.73 and a beta of 1.37. The business's 50 day moving average is $9.55 and its 200-day moving average is $9.15. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 1.50.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The firm had revenue of $291.56 million during the quarter, compared to analysts' expectations of $281.12 million. ADTRAN's quarterly revenue was up 20.0% compared to the same quarter last year. Equities research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

ADTRAN Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company's product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.

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