Vanguard Group Inc. Acquires 501,512 Shares of ADTRAN Holdings, Inc. $ADTN

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

Other hedge funds also recently modified their holdings of the company. Aquatic Capital Management LLC grew its holdings in shares of ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after buying an additional 6,290 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of ADTRAN during the first quarter worth about $65,000. Ballentine Partners LLC bought a new position in shares of ADTRAN during the first quarter worth about $94,000. CWM LLC grew its holdings in shares of ADTRAN by 159.6% during the first quarter. CWM LLC now owns 13,360 shares of the communications equipment provider's stock worth $116,000 after buying an additional 8,214 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of ADTRAN by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after buying an additional 1,501 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Stock Up 0.6%

NASDAQ ADTN traded up $0.06 during trading hours on Wednesday, hitting $9.34. 523,946 shares of the company traded hands, compared to its average volume of 1,095,455. The business's 50-day moving average is $9.02 and its 200-day moving average is $8.82. ADTRAN Holdings, Inc. has a twelve month low of $4.93 and a twelve month high of $12.44. 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 stock has a market capitalization of $746.99 million, a price-to-earnings ratio of -7.13 and a beta of 1.30.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ADTN shares. Wolfe Research started coverage on ADTRAN in a report on Monday, July 7th. They set a "peer perform" rating for the company. Wall Street Zen downgraded ADTRAN from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Finally, Needham & Company LLC reduced their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th. 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 currently has an average rating of "Moderate Buy" and a consensus target price 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.