Dynamic Technology Lab Private Ltd Boosts Stake in ADTRAN Holdings, Inc. $ADTN

Dynamic Technology Lab Private Ltd boosted its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 106.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,368 shares of the communications equipment provider’s stock after acquiring an additional 60,070 shares during the quarter. Dynamic Technology Lab Private Ltd owned 0.15% of ADTRAN worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of ADTRAN by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,383,305 shares of the communications equipment provider’s stock valued at $78,635,000 after acquiring an additional 217,148 shares during the last quarter. DNB Asset Management AS increased its position in shares of ADTRAN by 6.4% in the third quarter. DNB Asset Management AS now owns 2,903,869 shares of the communications equipment provider’s stock worth $27,238,000 after purchasing an additional 174,354 shares during the last quarter. Royce & Associates LP raised its stake in ADTRAN by 14.7% in the third quarter. Royce & Associates LP now owns 2,410,775 shares of the communications equipment provider’s stock valued at $22,613,000 after purchasing an additional 308,705 shares in the last quarter. First Eagle Investment Management LLC raised its stake in ADTRAN by 6.7% in the third quarter. First Eagle Investment Management LLC now owns 1,209,207 shares of the communications equipment provider’s stock valued at $11,342,000 after purchasing an additional 75,600 shares in the last quarter. Finally, Westerly Capital Management LLC lifted its position in ADTRAN by 16.8% during the second quarter. Westerly Capital Management LLC now owns 975,000 shares of the communications equipment provider’s stock valued at $8,746,000 after purchasing an additional 140,000 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ADTN shares. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of ADTRAN in a research note on Thursday, February 26th. Rosenblatt Securities raised their price objective on shares of ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Argus upgraded shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.33.

ADTRAN Stock Down 4.7%

Shares of ADTRAN stock opened at $9.59 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. ADTRAN Holdings, Inc. has a 52-week low of $6.93 and a 52-week high of $11.10. The company’s 50 day moving average price is $9.57 and its 200-day moving average price is $9.16. The stock has a market capitalization of $773.53 million, a price-to-earnings ratio of -18.80 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. ADTRAN’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.