Swiss National Bank Makes New Investment in ADTRAN Holdings, Inc. $ADTN

Swiss National Bank bought a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 146,000 shares of the communications equipment provider’s stock, valued at approximately $1,273,000. Swiss National Bank owned 0.18% of ADTRAN at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ADTN. Schonfeld Strategic Advisors LLC purchased a new position in shares of ADTRAN in the fourth quarter valued at $12,921,000. Royce & Associates LP boosted its stake in shares of ADTRAN by 188.5% in the first quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider’s stock valued at $12,265,000 after purchasing an additional 919,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of ADTRAN by 7.6% in the first quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider’s stock valued at $61,859,000 after purchasing an additional 501,512 shares during the period. Raymond James Financial Inc. purchased a new position in shares of ADTRAN in the fourth quarter valued at $2,146,000. Finally, Crestline Management LP purchased a new position in shares of ADTRAN in the fourth quarter valued at $1,996,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADTN. Wall Street Zen downgraded shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 10th. Needham & Company LLC reduced their price objective on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Wolfe Research initiated coverage on shares of ADTRAN in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

ADTRAN Trading Down 0.5%

NASDAQ ADTN opened at $9.12 on Tuesday. ADTRAN Holdings, Inc. has a 12 month low of $4.93 and a 12 month high of $12.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19. The company has a market capitalization of $729.42 million, a price-to-earnings ratio of -6.96 and a beta of 1.30. The company’s fifty day moving average price is $8.99 and its two-hundred day moving average price is $8.81.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The business had revenue of $265.07 million for the quarter, compared to analyst estimates of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company posted ($0.24) earnings per share. As a group, research analysts predict that ADTRAN Holdings, Inc. will post -0.5 earnings per share 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.