JPMorgan Chase & Co. Grows Stock Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

JPMorgan Chase & Co. lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 591.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 863,807 shares of the communications equipment provider's stock after buying an additional 738,893 shares during the quarter. JPMorgan Chase & Co. owned about 1.09% of ADTRAN worth $7,196,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADTN. Quantinno Capital Management LP acquired a new position in ADTRAN in the third quarter valued at $120,000. Quantbot Technologies LP grew its stake in ADTRAN by 104.5% during the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after buying an additional 7,636 shares during the last quarter. Magnetar Financial LLC purchased a new position in ADTRAN during the 4th quarter worth approximately $140,000. Inceptionr LLC acquired a new position in ADTRAN during the fourth quarter worth approximately $162,000. Finally, Catalyst Funds Management Pty Ltd lifted its stake in ADTRAN by 6.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock valued at $190,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC lifted their target price on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities decreased their target price on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Craig Hallum assumed coverage on ADTRAN in a research note 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $12.50.

ADTRAN Stock Performance

ADTN traded up $0.29 during trading on Tuesday, reaching $7.47. The company's stock had a trading volume of 1,246,064 shares, compared to its average volume of 929,359. The company has a market capitalization of $597.32 million, a price-to-earnings ratio of -1.15 and a beta of 1.46. The company's fifty day moving average price is $9.10 and its 200-day moving average price is $8.67. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $12.44. 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 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.