115,374 Shares in ADTRAN Holdings, Inc. $ADTN Acquired by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 115,374 shares of the communications equipment provider’s stock, valued at approximately $1,451,000. OP Asset Management Ltd owned approximately 0.14% of ADTRAN as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of ADTRAN in the third quarter valued at $36,000. Kestra Advisory Services LLC purchased a new position in shares of ADTRAN during the fourth quarter valued at $36,000. ST Germain D J Co. Inc. raised its position in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in ADTRAN during the fourth quarter valued at $47,000. Finally, Freestone Grove Partners LP acquired a new position in ADTRAN during the fourth quarter valued at $87,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADTN shares. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of ADTRAN in a research report on Wednesday, May 6th. Argus raised shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Rosenblatt Securities increased their price target on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Finally, Evercore began coverage on shares of ADTRAN in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $13.75 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. ADTRAN Holdings, Inc. has a one year low of $7.11 and a one year high of $19.98. The business’s 50-day moving average price is $15.79 and its two-hundred day moving average price is $12.30. The company has a market capitalization of $1.11 billion, a P/E ratio of -35.26 and a beta of 1.42.

ADTRAN (NASDAQ:ADTN) last announced its quarterly 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 analyst estimates of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. Analysts anticipate that ADTRAN Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

About ADTRAN

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.