ADTRAN Holdings, Inc. $ADTN Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY lessened its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 96.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,000 shares of the communications equipment provider’s stock after selling 2,339,600 shares during the period. Paradigm Capital Management Inc. NY’s holdings in ADTRAN were worth $698,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ADTRAN by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider’s stock valued at $61,859,000 after acquiring an additional 501,512 shares in the last quarter. Royce & Associates LP boosted its holdings in ADTRAN by 188.5% in the first quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider’s stock worth $12,265,000 after purchasing an additional 919,000 shares during the period. Invesco Ltd. increased its stake in ADTRAN by 325.4% during the first quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock valued at $10,317,000 after purchasing an additional 905,056 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ADTRAN by 5.8% during the fourth quarter. Northern Trust Corp now owns 681,878 shares of the communications equipment provider’s stock worth $5,680,000 after purchasing an additional 37,311 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of ADTRAN by 20.2% during the fourth quarter. Bank of America Corp DE now owns 634,013 shares of the communications equipment provider’s stock worth $5,281,000 after purchasing an additional 106,601 shares during the period. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Trading Down 0.7%

ADTRAN stock opened at $9.38 on Friday. The firm has a 50-day moving average price of $9.11 and a two-hundred day moving average price of $8.78. The firm has a market capitalization of $750.21 million, a price-to-earnings ratio of -7.16 and a beta of 1.30. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12. ADTRAN Holdings, Inc. has a 52-week low of $4.93 and a 52-week high of $12.44.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The business had revenue of $265.07 million for the quarter, compared to analyst estimates of $255.57 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. Sell-side analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADTN shares. Needham & Company LLC decreased their price target on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 9th. Wolfe Research started coverage on shares of ADTRAN in a report on Monday, July 7th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen downgraded ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.00.

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.