Price T Rowe Associates Inc. MD Purchases 6,121 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Price T Rowe Associates Inc. MD grew its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,986 shares of the communications equipment provider’s stock after acquiring an additional 6,121 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in ADTRAN were worth $825,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADTN. Catalyst Funds Management Pty Ltd lifted its position in ADTRAN by 6.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after purchasing an additional 1,300 shares during the period. Hsbc Holdings PLC raised its stake in shares of ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock valued at $122,000 after buying an additional 1,501 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of ADTRAN by 2.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 220,401 shares of the communications equipment provider’s stock worth $1,829,000 after acquiring an additional 5,382 shares during the period. SG Americas Securities LLC boosted its position in shares of ADTRAN by 24.7% during the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock valued at $295,000 after acquiring an additional 7,011 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in ADTRAN by 104.5% in 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 during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ADTN. Rosenblatt Securities cut their price target on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC dropped their target price on ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

ADTRAN Price Performance

ADTN opened at $7.71 on Monday. The firm has a market cap of $616.51 million, a price-to-earnings ratio of -1.18 and a beta of 1.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The firm’s 50-day simple moving average is $8.26 and its 200-day simple moving average is $8.84. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. 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.