Intech Investment Management LLC Increases Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Intech Investment Management LLC grew its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 62.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 25,038 shares of the communications equipment provider’s stock after purchasing an additional 9,585 shares during the quarter. Intech Investment Management LLC’s holdings in ADTRAN were worth $209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADTN. William Blair Investment Management LLC raised its holdings in ADTRAN by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider’s stock worth $38,711,000 after acquiring an additional 114,986 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ADTRAN by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after purchasing an additional 63,960 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of ADTRAN by 39.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock worth $7,708,000 after purchasing an additional 263,156 shares during the last quarter. Barclays PLC lifted its holdings in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after purchasing an additional 11,880 shares in the last quarter. Finally, State Street Corp increased its holdings in ADTRAN by 2.8% in the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Down 2.3 %

Shares of ADTRAN stock opened at $9.24 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The stock has a market capitalization of $737.91 million, a PE ratio of -1.42 and a beta of 1.29. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $12.44. The company’s fifty day simple moving average is $10.22 and its 200-day simple moving average is $8.36.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADTN. Northland Securities upped their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Craig Hallum initiated coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC boosted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $13.50.

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.