ADTRAN Holdings, Inc. $ADTN Position Boosted by Vanguard Group Inc.

Key Points

• The Vanguard Group Inc. increased its stake in ADTRAN Holdings, Inc. by 7.6% during the first quarter, acquiring an additional 501,512 shares to reach a total of 7,093,931 shares.
• ADTRAN reported a quarterly revenue of $265.07 million but missed earnings expectations with a loss of ($0.26) earnings per share, deviating from the consensus estimate of $0.01.
• Analysts have a consensus rating of "Moderate Buy" on ADTRAN, with a target price set at $12.00, indicating some optimism despite recent adjustments to ratings.

Vanguard Group Inc. grew its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,093,931 shares of the communications equipment provider's stock after purchasing an additional 501,512 shares during the period. Vanguard Group Inc. owned approximately 8.87% of ADTRAN worth $61,859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of ADTRAN by 24.8% during the 4th quarter. Wells Fargo & Company MN now owns 51,465 shares of the communications equipment provider's stock valued at $429,000 after acquiring an additional 10,221 shares during the period. Invesco Ltd. lifted its position in shares of ADTRAN by 7.0% during the 4th quarter. Invesco Ltd. now owns 278,124 shares of the communications equipment provider's stock valued at $2,317,000 after acquiring an additional 18,234 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ADTRAN during the 4th quarter valued at approximately $2,146,000. Barclays PLC lifted its position in shares of ADTRAN by 134.8% during the 4th quarter. Barclays PLC now owns 271,814 shares of the communications equipment provider's stock valued at $2,264,000 after acquiring an additional 156,073 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of ADTRAN by 42.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 623,935 shares of the communications equipment provider's stock valued at $5,197,000 after acquiring an additional 186,074 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADTN. Wall Street Zen lowered shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Wolfe Research started coverage on shares of ADTRAN in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, Needham & Company LLC reduced their target price on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

ADTRAN Stock Down 0.7%

NASDAQ ADTN traded down $0.07 on Friday, reaching $9.38. The company had a trading volume of 1,258,750 shares, compared to its average volume of 991,213. The firm has a market capitalization of $750.21 million, a PE ratio of -7.16 and a beta of 1.30. ADTRAN Holdings, Inc. has a 1 year low of $4.93 and a 1 year high of $12.44. The firm has a 50-day moving average of $9.11 and a 200-day moving average of $8.80. 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 (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 the consensus estimate 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 business had revenue of $265.07 million for the quarter, compared to analysts' expectations of $255.57 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. ADTRAN's revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

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.