Y Intercept Hong Kong Ltd Lowers Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Y Intercept Hong Kong Ltd trimmed its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 73.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,234 shares of the communications equipment provider's stock after selling 48,368 shares during the period. Y Intercept Hong Kong Ltd's holdings in ADTRAN were worth $144,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in ADTRAN in the 3rd quarter worth about $92,000. Harbor Capital Advisors Inc. grew its position in ADTRAN by 94.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider's stock worth $112,000 after purchasing an additional 9,202 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in ADTRAN in the 3rd quarter worth about $114,000. Quantinno Capital Management LP bought a new position in shares of ADTRAN during the 3rd quarter valued at approximately $120,000. Finally, SG Americas Securities LLC grew its position in shares of ADTRAN by 24.7% during the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock valued at $295,000 after acquiring an additional 7,011 shares during the period. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADTN. Needham & Company LLC increased their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Craig Hallum began coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 target price for the company. Rosenblatt Securities reissued a "buy" rating and set a $15.00 target price on shares of ADTRAN in a research report on Friday, February 28th. Finally, Northland Securities increased their target price on shares of ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $13.50.

Remove Ads

ADTRAN Stock Performance

Shares of NASDAQ:ADTN traded down $0.35 during trading on Friday, hitting $9.16. 1,475,776 shares of the company were exchanged, compared to its average volume of 870,341. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $12.44. The stock has a 50 day moving average of $10.34 and a 200 day moving average of $8.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The company has a market cap of $731.52 million, a PE ratio of -1.41 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.