Needham Investment Management LLC Decreases Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Needham Investment Management LLC reduced its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,245,000 shares of the communications equipment provider's stock after selling 90,000 shares during the period. Needham Investment Management LLC owned 1.57% of ADTRAN worth $10,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADTN. Aquatic Capital Management LLC increased its position in shares of ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 6,290 shares during the last quarter. SIH Partners LLLP bought a new position in shares of ADTRAN during the fourth quarter valued at approximately $107,000. Hsbc Holdings PLC raised 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 valued at $122,000 after acquiring an additional 1,501 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of ADTRAN by 104.5% during the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after acquiring an additional 7,636 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of ADTRAN during the fourth quarter valued at approximately $140,000. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Trading Down 0.7%

Shares of NASDAQ ADTN traded down $0.06 during trading hours on Friday, hitting $8.13. 530,245 shares of the company traded hands, compared to its average volume of 937,267. The stock has a market capitalization of $650.09 million, a price-to-earnings ratio of -1.25 and a beta of 1.33. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company's 50 day moving average price is $8.17 and its 200 day moving average price is $8.86. ADTRAN Holdings, Inc. has a 12 month low of $4.62 and a 12 month high of $12.44.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative return on equity of 38.62% and a negative net margin of 56.95%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. On average, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Rosenblatt Securities decreased their target price on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reduced their price objective on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, ADTRAN has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

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.