Charles Schwab Investment Management Inc. Decreases Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Charles Schwab Investment Management Inc. reduced its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 880,973 shares of the communications equipment provider’s stock after selling 135,485 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.11% of ADTRAN worth $5,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 4,177 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of ADTRAN in the 3rd quarter worth approximately $65,000. Point72 DIFC Ltd acquired a new position in shares of ADTRAN in the 2nd quarter worth approximately $69,000. SG Americas Securities LLC acquired a new position in shares of ADTRAN in the 2nd quarter worth approximately $90,000. Finally, Intech Investment Management LLC acquired a new position in shares of ADTRAN in the 3rd quarter worth approximately $92,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADTN has been the topic of several recent research reports. Rosenblatt Securities raised shares of ADTRAN from a “neutral” rating to a “buy” rating and upped their target price for the stock from $6.00 to $10.00 in a research note on Friday, November 8th. Needham & Company LLC upped their target price on shares of ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.50.

ADTRAN Stock Up 2.2 %

ADTN stock opened at $8.86 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $9.21. The firm has a fifty day moving average price of $7.26 and a two-hundred day moving average price of $6.10. The firm has a market cap of $702.65 million, a price-to-earnings ratio of -1.36 and a beta of 1.29.

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.