ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 779,298 shares of the communications equipment provider's stock after selling 40,223 shares during the quarter. Federated Hermes Inc. owned 0.98% of ADTRAN worth $6,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. William Blair Investment Management LLC increased its stake in ADTRAN by 2.5% in the fourth 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 acquiring an additional 114,986 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ADTRAN by 3.7% during 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. Assenagon Asset Management S.A. raised its holdings in ADTRAN by 39.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider's stock worth $7,708,000 after buying an additional 263,156 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of ADTRAN by 104.5% in the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after purchasing an additional 7,636 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of ADTRAN by 11.4% in the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock valued at $686,000 after acquiring an additional 11,880 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Down 0.8 %

ADTN traded down $0.06 during trading on Thursday, hitting $7.39. The stock had a trading volume of 143,024 shares, compared to its average volume of 1,197,776. The stock has a 50 day simple moving average of $9.41 and a two-hundred day simple moving average of $8.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $12.44. The company has a market capitalization of $590.92 million, a PE ratio of -1.14 and a beta of 1.46.

Analysts Set New Price Targets

ADTN has been the subject of a number of recent research reports. Needham & Company LLC lifted 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. Rosenblatt Securities restated a "buy" rating and issued a $15.00 price objective on shares of ADTRAN in a 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 price target for the company. Finally, Northland Securities upped their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $13.50.

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.