William Blair Investment Management LLC Purchases Shares of 1,099,019 ADTRAN Holdings, Inc. $ADTN

Key Points

• William Blair Investment Management acquired 1,099,019 ADTRAN shares worth approximately $15.3 million, giving it a 1.35% stake. Institutional investors collectively own 80.56% of the company.
• Analyst sentiment is mixed: ADTRAN has a consensus “Hold” rating and an average price target of $14.67, with recent targets ranging from $11 to $15 and one “Strong Sell” downgrade.
• ADTRAN’s shares opened at $7.77, near their 12-month low, after the company missed quarterly earnings and revenue expectations despite reporting 6% year-over-year revenue growth.

William Blair Investment Management LLC acquired a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,099,019 shares of the communications equipment provider's stock, valued at approximately $15,276,000. William Blair Investment Management LLC owned about 1.35% of ADTRAN at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADTN. Tieton Capital Management LLC purchased a new position in ADTRAN during the second quarter worth approximately $7,931,000. Arrowstreet Capital Limited Partnership grew its stake in shares of ADTRAN by 60.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider's stock valued at $5,732,000 after buying an additional 171,145 shares during the period. Heartland Advisors Inc. acquired a new stake in shares of ADTRAN during the 1st quarter worth $9,435,000. Sei Investments Co. increased its holdings in shares of ADTRAN by 162.0% during the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider's stock worth $13,902,000 after buying an additional 683,262 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of ADTRAN by 50.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider's stock worth $16,817,000 after buying an additional 448,848 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADTN has been the topic of a number of research analyst reports. Northland Securities set a $15.00 target price on ADTRAN in a report on Wednesday, August 5th. Evercore set a $11.00 price target on ADTRAN in a research note on Wednesday, August 5th. Wall Street Zen downgraded ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Rosenblatt Securities reduced their price objective on ADTRAN from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Finally, Zacks Research cut ADTRAN from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.67.

ADTRAN Price Performance

Shares of ADTN stock opened at $7.77 on Friday. The company has a market capitalization of $633.10 million, a PE ratio of -27.75 and a beta of 1.47. The firm has a fifty day simple moving average of $11.16 and a 200-day simple moving average of $12.60. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69. ADTRAN Holdings, Inc. has a twelve month low of $7.11 and a twelve month high of $19.98.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The firm had revenue of $281.15 million for the quarter, compared to analysts' expectations of $290.19 million. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts anticipate that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current fiscal year.

About ADTRAN

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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