First Eagle Investment Management LLC Boosts Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

First Eagle Investment Management LLC grew its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,246,807 shares of the communications equipment provider's stock after acquiring an additional 245,000 shares during the quarter. First Eagle Investment Management LLC owned 1.57% of ADTRAN worth $10,386,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of ADTRAN by 2.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 220,401 shares of the communications equipment provider's stock worth $1,829,000 after purchasing an additional 5,382 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of ADTRAN by 24.7% in the fourth 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 during the last quarter. Barclays PLC raised its stake 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 worth $686,000 after purchasing an additional 11,880 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of ADTRAN by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock worth $741,000 after purchasing an additional 13,478 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of ADTRAN in the third quarter worth about $92,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

ADTN has been the subject of several research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th. Needham & Company LLC lifted their price target on ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Northland Securities lifted their price target on ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Finally, Craig Hallum assumed coverage on ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 price target for the company. 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. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $13.50.

ADTRAN Price Performance

Shares of ADTRAN stock traded down $0.03 on Wednesday, reaching $9.00. The company's stock had a trading volume of 614,133 shares, compared to its average volume of 874,995. The company has a market capitalization of $718.74 million, a P/E ratio of -1.38 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 stock has a 50-day moving average price of $10.34 and a 200-day moving average price of $8.22. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

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.