Dynamic Technology Lab Private Ltd Boosts Stock Position in ADTRAN Holdings, Inc. $ADTN

Dynamic Technology Lab Private Ltd increased its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 106.7% during the 3rd quarter, Holdings Channel reports. The firm owned 116,368 shares of the communications equipment provider’s stock after buying an additional 60,070 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in ADTRAN were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ADTN. SG Capital Management LLC bought a new position in ADTRAN during the 2nd quarter valued at approximately $7,601,000. Assenagon Asset Management S.A. grew its position in shares of ADTRAN by 691.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock worth $8,749,000 after buying an additional 814,864 shares during the last quarter. Marshall Wace LLP increased its stake in shares of ADTRAN by 88.2% during the second quarter. Marshall Wace LLP now owns 816,533 shares of the communications equipment provider’s stock valued at $7,324,000 after buying an additional 382,609 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of ADTRAN by 110.7% during the second quarter. Qube Research & Technologies Ltd now owns 686,711 shares of the communications equipment provider’s stock valued at $6,160,000 after buying an additional 360,841 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of ADTRAN by 78.2% during the third quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider’s stock valued at $7,629,000 after acquiring an additional 356,884 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADTN shares. Argus raised ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of ADTRAN in a report on Thursday, February 26th. Finally, Rosenblatt Securities raised their target price on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.33.

ADTRAN Stock Down 4.7%

Shares of NASDAQ:ADTN opened at $9.59 on Monday. The firm has a market capitalization of $773.53 million, a P/E ratio of -18.80 and a beta of 1.37. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The stock has a 50 day moving average price of $9.57 and a 200-day moving average price of $9.16. ADTRAN Holdings, Inc. has a 52-week low of $6.93 and a 52-week high of $11.10.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $291.56 million for the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

ADTRAN Company Profile

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.