Vanguard Group Inc. Has $54.92 Million Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Vanguard Group Inc. lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,592,419 shares of the communications equipment provider's stock after acquiring an additional 41,478 shares during the quarter. Vanguard Group Inc. owned 8.31% of ADTRAN worth $54,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADTN. Catalyst Funds Management Pty Ltd boosted its position in ADTRAN by 6.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock worth $190,000 after acquiring an additional 1,300 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in ADTRAN by 2.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 220,401 shares of the communications equipment provider's stock valued at $1,829,000 after purchasing an additional 5,382 shares in the last quarter. SG Americas Securities LLC increased its stake in ADTRAN by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider's stock valued at $295,000 after buying an additional 7,011 shares during the period. Quantbot Technologies LP lifted its position in ADTRAN by 104.5% in 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 in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of ADTRAN by 62.0% during the 4th quarter. Intech Investment Management LLC now owns 25,038 shares of the communications equipment provider's stock valued at $209,000 after buying an additional 9,585 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Performance

Shares of ADTN stock traded down $0.08 during trading hours on Thursday, reaching $7.37. 90,625 shares of the company's stock were exchanged, compared to its average volume of 1,197,288. The business has a fifty day moving average price of $9.41 and a 200-day moving average price of $8.61. The stock has a market capitalization of $589.40 million, a P/E ratio of -1.13 and a beta of 1.46. 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 Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $12.44.

Analyst Ratings Changes

ADTN has been the subject of several recent research reports. Needham & Company LLC increased their price objective on ADTRAN from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Northland Securities increased their price objective on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th. Finally, 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 target price on the stock. One investment 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price 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.