First Eagle Investment Management LLC Lowers Position in ADTRAN Holdings, Inc. $ADTN

First Eagle Investment Management LLC decreased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,133,607 shares of the communications equipment provider’s stock after selling 10,500 shares during the quarter. First Eagle Investment Management LLC owned about 1.42% of ADTRAN worth $10,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in shares of ADTRAN during the 2nd quarter valued at about $65,000. Park Avenue Securities LLC bought a new stake in shares of ADTRAN in the second quarter worth about $91,000. Ballentine Partners LLC purchased a new stake in shares of ADTRAN in the first quarter worth about $94,000. Financial Engines Advisors L.L.C. bought a new position in ADTRAN during the first quarter valued at approximately $106,000. Finally, Landscape Capital Management L.L.C. bought a new position in ADTRAN during the first quarter valued at approximately $112,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADTN has been the topic of a number of research reports. B. Riley initiated coverage on ADTRAN in a research note on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ADTRAN presently has a consensus rating of “Moderate Buy” and an average price target of $12.80.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $7.97 on Friday. The firm has a market capitalization of $637.42 million, a PE ratio of -6.08 and a beta of 1.41. The stock’s fifty day moving average is $9.43 and its 200 day moving average is $8.87. ADTRAN Holdings, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 EPS for the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The company had revenue of $358.27 million during the quarter. On average, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

About ADTRAN

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.