ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 53.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,100 shares of the communications equipment provider's stock after acquiring an additional 59,985 shares during the quarter. American Century Companies Inc. owned about 0.22% of ADTRAN worth $1,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADTN. William Blair Investment Management LLC raised its position in shares of ADTRAN by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider's stock valued at $38,711,000 after purchasing an additional 114,986 shares during the period. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 63,960 shares in the last quarter. State Street Corp boosted its stake in ADTRAN by 2.8% in the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock worth $10,484,000 after purchasing an additional 48,542 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of ADTRAN by 24.5% in the fourth quarter. First Eagle Investment Management LLC now owns 1,246,807 shares of the communications equipment provider's stock worth $10,386,000 after buying an additional 245,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in ADTRAN by 39.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock worth $7,708,000 after purchasing an additional 263,156 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADTN. Northland Securities lifted their price objective on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Craig Hallum started coverage on ADTRAN in a research note on Wednesday, January 8th. They set a "buy" rating and a $15.00 price objective on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $15.00 target price on shares of ADTRAN in a report on Friday, February 28th. Finally, Needham & Company LLC raised their price target on ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One 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 stock. Based on data from MarketBeat.com, ADTRAN presently has a consensus rating of "Buy" and a consensus price target of $13.50.

ADTRAN Trading Up 2.9 %

Shares of NASDAQ:ADTN traded up $0.22 on Tuesday, hitting $7.80. 77,732 shares of the company's stock were exchanged, compared to its average volume of 920,780. The stock has a market capitalization of $623.70 million, a price-to-earnings ratio of -1.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44. The business's 50 day simple moving average is $9.56 and its two-hundred day simple moving average is $8.63.

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.