Louisiana State Employees Retirement System Takes $260,000 Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Louisiana State Employees Retirement System bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 35,400 shares of the communications equipment provider’s stock, valued at approximately $260,000.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in ADTRAN by 20,809.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $51,000 after purchasing an additional 6,867 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in ADTRAN by 91.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 6,179 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of ADTRAN in the third quarter valued at about $114,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of ADTRAN during the third quarter valued at about $119,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ADTRAN by 19.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,185 shares of the communications equipment provider’s stock worth $125,000 after purchasing an additional 2,500 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ADTN. Rosenblatt Securities lowered their price target on ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of ADTRAN in a research note on Wednesday, April 17th. Finally, StockNews.com raised shares of ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.50.

ADTRAN Trading Up 3.4 %

ADTN opened at $4.53 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.64 and a debt-to-equity ratio of 0.33. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $11.02. The stock has a market cap of $358.41 million, a PE ratio of -1.41 and a beta of 1.13. The business has a 50 day moving average of $5.36 and a 200-day moving average of $6.13.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Monday, February 26th. The communications equipment provider reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($1.01). The firm had revenue of $225.48 million for the quarter, compared to analysts’ expectations of $232.45 million. ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. Equities research analysts predict that ADTRAN Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.

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.