ADTRAN Holdings, Inc. $ADTN is 1492 Capital Management LLC’s 3rd Largest Position

1492 Capital Management LLC increased its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 6.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 625,024 shares of the communications equipment provider’s stock after acquiring an additional 39,747 shares during the quarter. ADTRAN makes up 3.0% of 1492 Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. 1492 Capital Management LLC’s holdings in ADTRAN were worth $7,863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of ADTRAN by 78.2% in the third quarter. JPMorgan Chase & Co. now owns 813,363 shares of the communications equipment provider’s stock valued at $7,629,000 after purchasing an additional 356,884 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of ADTRAN by 106.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider’s stock worth $1,092,000 after buying an additional 60,070 shares during the period. Granahan Investment Management LLC increased its stake in shares of ADTRAN by 190.8% during the third quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider’s stock worth $5,464,000 after buying an additional 382,170 shares during the period. Quantbot Technologies LP raised its holdings in ADTRAN by 520.7% in the third quarter. Quantbot Technologies LP now owns 126,490 shares of the communications equipment provider’s stock valued at $1,186,000 after acquiring an additional 106,110 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in ADTRAN by 434.2% in the third quarter. Tudor Investment Corp ET AL now owns 897,115 shares of the communications equipment provider’s stock valued at $8,415,000 after acquiring an additional 729,194 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ADTN shares. Evercore assumed coverage on shares of ADTRAN in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Rosenblatt Securities boosted their target price on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Finally, Northland Securities set a $18.00 price target on ADTRAN in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ADTRAN has an average rating of “Hold” and an average target price of $18.00.

ADTRAN Stock Down 3.7%

ADTN stock opened at $13.52 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of -34.67 and a beta of 1.42. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. ADTRAN Holdings, Inc. has a twelve month low of $7.11 and a twelve month high of $19.98. The company’s 50 day moving average is $15.85 and its two-hundred day moving average is $12.24.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $286.09 million during the quarter, compared to analysts’ expectations of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. Research analysts expect that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

ADTRAN 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.