Charles Schwab Investment Management Inc. Reduces Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Charles Schwab Investment Management Inc. trimmed its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 756,898 shares of the communications equipment provider's stock after selling 124,075 shares during the period. Charles Schwab Investment Management Inc. owned about 0.95% of ADTRAN worth $6,305,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Intech Investment Management LLC bought a new position in shares of ADTRAN during the 3rd quarter worth approximately $92,000. Point72 Asset Management L.P. bought a new stake in ADTRAN in the third quarter valued at $114,000. Quantinno Capital Management LP acquired a new position in shares of ADTRAN during the third quarter valued at about $120,000. SG Americas Securities LLC boosted 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 worth $295,000 after purchasing an additional 7,011 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at about $300,000. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Down 3.5 %

ADTRAN stock traded down $0.32 during midday trading on Friday, hitting $8.90. 621,606 shares of the stock were exchanged, compared to its average volume of 905,328. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $710.75 million, a price-to-earnings ratio of -1.37 and a beta of 1.29. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $12.44. The business's 50-day moving average price is $10.20 and its 200-day moving average price is $8.37.

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Analysts Set New Price Targets

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

About ADTRAN

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.