Divisar Capital Management LLC Buys 1,146,774 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Divisar Capital Management LLC lifted its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 25.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,740,461 shares of the communications equipment provider’s stock after buying an additional 1,146,774 shares during the period. ADTRAN comprises approximately 5.7% of Divisar Capital Management LLC’s holdings, making the stock its 5th largest holding. Divisar Capital Management LLC owned approximately 7.26% of ADTRAN worth $30,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cape Investment Advisory Inc. bought a new stake in ADTRAN in the fourth quarter valued at $27,000. Point72 DIFC Ltd bought a new stake in shares of ADTRAN in the 2nd quarter worth about $69,000. SG Americas Securities LLC acquired a new stake in shares of ADTRAN during the 2nd quarter worth about $90,000. PEAK6 Investments LLC lifted its holdings in ADTRAN by 28.5% during the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 3,911 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after buying an additional 3,326 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADTN. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a report on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.00 price objective on shares of ADTRAN in a research report on Wednesday, August 7th. Finally, StockNews.com lowered ADTRAN from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.17.

ADTRAN Price Performance

Shares of ADTN stock opened at $5.79 on Thursday. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $458.09 million, a price-to-earnings ratio of -0.84 and a beta of 1.19. The firm’s 50 day moving average is $5.56 and its 200-day moving average is $5.33. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $8.56.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). The firm had revenue of $225.99 million during the quarter, compared to the consensus estimate of $225.95 million. ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. Sell-side analysts forecast that ADTRAN Holdings, Inc. will post -0.41 EPS for the current fiscal year.

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.