Needham Investment Management LLC Buys 272,500 Shares of ADTRAN Holdings, Inc. $ADTN

Needham Investment Management LLC lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 23.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,447,500 shares of the communications equipment provider’s stock after acquiring an additional 272,500 shares during the period. Needham Investment Management LLC owned 1.81% of ADTRAN worth $12,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADTN. Franklin Resources Inc. raised its holdings in shares of ADTRAN by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after purchasing an additional 1,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ADTRAN by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after acquiring an additional 1,946 shares during the period. Occudo Quantitative Strategies LP grew its stake in ADTRAN by 3.2% in the third quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock valued at $616,000 after acquiring an additional 2,016 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of ADTRAN by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock valued at $1,632,000 after acquiring an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in shares of 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 acquiring an additional 2,500 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $15.13 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The stock has a market cap of $1.23 billion, a PE ratio of -38.79 and a beta of 1.42. The stock’s fifty day simple moving average is $15.79 and its two-hundred day simple moving average is $11.85. ADTRAN Holdings, Inc. has a 1-year low of $7.11 and a 1-year high of $19.98.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $286.09 million during the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, analysts forecast that ADTRAN Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on ADTN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Northland Securities set a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. Rosenblatt Securities boosted their target price 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.00.

ADTRAN Company Profile

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.