ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 39.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 925,310 shares of the communications equipment provider's stock after purchasing an additional 263,156 shares during the period. Assenagon Asset Management S.A. owned about 1.17% of ADTRAN worth $7,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ADTN. Massachusetts Financial Services Co. MA lifted its stake in shares of ADTRAN by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider's stock valued at $376,000 after purchasing an additional 2,396 shares during the period. Inspire Investing LLC raised its position in shares of ADTRAN by 5.1% in the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider's stock worth $413,000 after acquiring an additional 3,387 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ADTRAN by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider's stock worth $1,472,000 after acquiring an additional 3,638 shares in the last quarter. Blue Trust Inc. increased its stake 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 valued at $28,000 after purchasing an additional 4,177 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings 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 during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Trading Up 0.6 %

ADTRAN stock traded up $0.06 during midday trading on Monday, hitting $10.19. 943,177 shares of the stock were exchanged, compared to its average volume of 668,302. 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 stock's 50-day simple moving average is $8.71 and its 200 day simple moving average is $6.81. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $10.71. The stock has a market capitalization of $808.17 million, a price-to-earnings ratio of -1.57 and a beta of 1.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADTN shares. Northland Securities upped their target price on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price objective on shares of ADTRAN in a report on Thursday. Rosenblatt Securities raised shares of ADTRAN from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $6.00 to $10.00 in a research note on Friday, November 8th. StockNews.com raised shares of ADTRAN from a "sell" rating to a "hold" rating in a research note on Wednesday, October 2nd. Finally, Craig Hallum began coverage on ADTRAN in a research note on Wednesday, January 8th. They set a "buy" rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $11.50.

ADTRAN Company 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.