Royce & Associates LP Purchases New Shares in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Royce & Associates LP purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 487,500 shares of the communications equipment provider's stock, valued at approximately $4,061,000. Royce & Associates LP owned 0.61% of ADTRAN as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of ADTN. Intech Investment Management LLC acquired a new position in shares of ADTRAN during the third quarter valued at $92,000. Point72 Asset Management L.P. acquired a new position in shares of ADTRAN during 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 $120,000. State Street Corp increased its holdings in shares of ADTRAN by 2.8% during the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock valued at $10,484,000 after purchasing an additional 48,542 shares during the period. Finally, Barclays PLC increased its holdings in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock valued at $686,000 after purchasing an additional 11,880 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

ADTRAN Price Performance

NASDAQ:ADTN traded up $0.17 during mid-day trading on Friday, reaching $9.21. 1,902,488 shares of the stock were exchanged, compared to its average volume of 880,035. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $12.44. The firm has a market capitalization of $735.51 million, a PE ratio of -1.41 and a beta of 1.29. The business has a fifty day moving average price of $10.26 and a 200 day moving average price of $8.28.

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Analyst Ratings Changes

ADTN has been the topic of a number of research analyst reports. Needham & Company LLC raised their price target on ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Northland Securities lifted their target price on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They set a "buy" rating and a $15.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 target price on shares of ADTRAN in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus 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.