Thompson Siegel & Walmsley LLC Takes Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Thompson Siegel & Walmsley LLC bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,559 shares of the communications equipment provider’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ADTN. Assenagon Asset Management S.A. grew its position in shares of ADTRAN by 39.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after purchasing an additional 263,156 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in ADTRAN during the fourth quarter worth approximately $2,146,000. Victory Capital Management Inc. acquired a new stake in ADTRAN during the fourth quarter worth approximately $1,012,000. Geode Capital Management LLC grew its position in ADTRAN by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after buying an additional 63,960 shares in the last quarter. Finally, State Street Corp grew its position in ADTRAN by 2.8% during the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ADTN shares. Craig Hallum started coverage on ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. Northland Securities increased their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC raised their target price on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ADTRAN currently has an average rating of “Buy” and a consensus price target of $13.50.

ADTRAN Trading Up 5.0 %

Shares of ADTN stock opened at $9.10 on Friday. The stock’s fifty day moving average price is $10.36 and its two-hundred day moving average price is $8.11. The company has a market cap of $726.73 million, a PE ratio of -1.40 and a beta of 1.29. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $12.44. 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 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.