115,374 Shares in ADTRAN Holdings, Inc. $ADTN Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 115,374 shares of the communications equipment provider’s stock, valued at approximately $1,451,000.

Several other institutional investors also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of ADTRAN in the third quarter worth about $36,000. Kestra Advisory Services LLC bought a new stake in shares of ADTRAN during the 4th quarter worth about $36,000. ST Germain D J Co. Inc. increased its holdings in shares of ADTRAN by 100.0% during the 4th 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 during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of ADTRAN during the 4th quarter valued at about $47,000. Finally, Freestone Grove Partners LP bought a new position in shares of ADTRAN in the 4th quarter valued at approximately $87,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADTN shares. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Northland Securities set a $18.00 price objective on shares of ADTRAN in a research note on Wednesday, May 6th. Finally, Evercore started coverage on shares of ADTRAN in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

ADTRAN Price Performance

NASDAQ ADTN opened at $13.75 on Tuesday. 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. The stock has a market capitalization of $1.11 billion, a PE ratio of -35.26 and a beta of 1.42. The stock has a 50-day simple moving average of $15.79 and a 200 day simple moving average of $12.30.

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

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.