Inspire Investing LLC Has $2.30 Million Stake in ADTRAN Holdings, Inc. $ADTN

Inspire Investing LLC increased its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 241.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,522 shares of the communications equipment provider’s stock after acquiring an additional 129,088 shares during the quarter. Inspire Investing LLC owned about 0.23% of ADTRAN worth $2,296,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new stake in ADTRAN during the 3rd quarter worth about $36,000. Kestra Advisory Services LLC bought a new stake in shares of ADTRAN during the fourth quarter worth approximately $36,000. ST Germain D J Co. Inc. raised its stake 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 worth $43,000 after buying an additional 2,500 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in ADTRAN in the fourth quarter valued at approximately $47,000. Finally, Freestone Grove Partners LP acquired a new position in ADTRAN in the fourth quarter valued at approximately $87,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Up 1.1%

ADTN opened at $13.90 on Wednesday. The firm’s fifty day moving average is $15.73 and its two-hundred day moving average is $12.33. The firm has a market cap of $1.13 billion, a PE ratio of -35.64 and a beta of 1.42. ADTRAN Holdings, Inc. has a twelve month low of $7.11 and a twelve month high of $19.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

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

Wall Street Analyst Weigh In

A number of research firms have commented on ADTN. B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a research note on Wednesday, May 6th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Northland Securities set a $18.00 price objective on ADTRAN in a report on Wednesday, May 6th. Finally, Evercore initiated coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

ADTRAN 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.