Massachusetts Financial Services Co. MA Lowers Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Massachusetts Financial Services Co. MA lowered its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 69,715 shares of the communications equipment provider’s stock after selling 1,688 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in ADTRAN were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADTN. PEAK6 Investments LLC boosted its holdings in ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after acquiring an additional 3,911 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ADTRAN by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock worth $453,000 after purchasing an additional 2,764 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in ADTRAN by 37.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 118,066 shares of the communications equipment provider’s stock valued at $642,000 after purchasing an additional 32,446 shares during the last quarter. Bayesian Capital Management LP bought a new stake in ADTRAN during the 1st quarter valued at about $256,000. Finally, Koesten Hirschmann & Crabtree INC. raised its holdings in ADTRAN by 13.9% in the first quarter. Koesten Hirschmann & Crabtree INC. now owns 54,099 shares of the communications equipment provider’s stock worth $294,000 after buying an additional 6,587 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ADTN shares. Needham & Company LLC increased their price target on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and increased their target price for the company from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ADTRAN presently has a consensus rating of “Buy” and an average target price of $9.50.

ADTRAN Stock Down 2.1 %

ADTN stock opened at $8.39 on Thursday. The business’s 50-day moving average price is $6.60 and its 200-day moving average price is $5.84. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock has a market cap of $665.41 million, a P/E ratio of -1.29 and a beta of 1.20. ADTRAN Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $9.05.

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.