ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTNFree Report) by 12.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,914 shares of the communications equipment provider’s stock after purchasing an additional 13,478 shares during the period. JPMorgan Chase & Co. owned 0.16% of ADTRAN worth $741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of ADTRAN by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after acquiring an additional 63,960 shares in the last quarter. State Street Corp raised its position in shares of ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock valued at $10,484,000 after acquiring an additional 48,542 shares in the last quarter. Millennium Management LLC lifted its stake in ADTRAN by 8,824.3% during the second quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock worth $8,151,000 after purchasing an additional 1,532,257 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in ADTRAN by 20.9% in the third quarter. Kovack Advisors Inc. now owns 778,850 shares of the communications equipment provider’s stock worth $4,619,000 after purchasing an additional 134,900 shares during the period. Finally, Renaissance Technologies LLC increased its stake in ADTRAN by 26.4% during the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after purchasing an additional 142,100 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $10.31 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $8.95 and its two-hundred day moving average is $7.00. The firm has a market capitalization of $817.69 million, a P/E ratio of -1.58 and a beta of 1.28. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $11.23.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ADTN shares. Northland Securities raised their price target on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of ADTRAN in a report on Thursday, January 16th. Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Rosenblatt Securities upped their price objective on ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ADTRAN presently has a consensus rating of “Buy” and an average price target of $12.75.

View Our Latest Analysis on ADTN

About ADTRAN

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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