Herald Investment Management Ltd Has $2.50 Million Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Herald Investment Management Ltd lessened its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the communications equipment provider’s stock after selling 100,000 shares during the period. Herald Investment Management Ltd owned approximately 0.38% of ADTRAN worth $2,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP increased its stake in ADTRAN by 104.5% in the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider’s stock valued at $124,000 after buying an additional 7,636 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of ADTRAN in the fourth quarter valued at approximately $140,000. Inceptionr LLC bought a new position in ADTRAN during the 4th quarter worth $162,000. Catalyst Funds Management Pty Ltd raised its stake in ADTRAN by 6.0% in the 4th 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 in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of ADTRAN by 62.0% in the fourth quarter. Intech Investment Management LLC now owns 25,038 shares of the communications equipment provider’s stock valued at $209,000 after buying an additional 9,585 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADTN. Northland Securities raised their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of ADTRAN in a research report on Friday, February 28th. Craig Hallum began coverage on ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $13.50.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $7.43 on Friday. The company has a market capitalization of $594.12 million, a P/E ratio of -1.14 and a beta of 1.46. The company’s 50-day moving average is $9.33 and its 200 day moving average is $8.62. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $12.44.

ADTRAN Company 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.