Dimensional Fund Advisors LP Raises Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Dimensional Fund Advisors LP increased its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,915 shares of the communications equipment provider’s stock after buying an additional 3,638 shares during the period. Dimensional Fund Advisors LP owned 0.35% of ADTRAN worth $1,472,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADTN. SG Americas Securities LLC bought a new position in ADTRAN in the second quarter worth approximately $90,000. PEAK6 Investments LLC increased its stake in shares of ADTRAN by 28.5% during the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after buying an additional 3,911 shares during the period. Versor Investments LP raised its holdings in shares of ADTRAN by 36.5% in the second quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider’s stock valued at $159,000 after acquiring an additional 8,100 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in ADTRAN in the second quarter worth about $212,000. Finally, Sierra Summit Advisors LLC purchased a new stake in ADTRAN in the fourth quarter worth about $219,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Trading Up 2.8 %

NASDAQ:ADTN opened at $5.91 on Friday. The stock has a market capitalization of $467.58 million, a price-to-earnings ratio of -0.86 and a beta of 1.19. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $7.95. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $5.45 and a 200 day moving average of $5.36.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. The business had revenue of $225.99 million for the quarter, compared to analysts’ expectations of $225.95 million. As a group, sell-side analysts anticipate that ADTRAN Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADTN has been the subject of several recent research reports. Rosenblatt Securities restated a “neutral” rating and issued a $6.00 price target on shares of ADTRAN in a report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research note on Thursday, August 8th. Finally, StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Moderate Buy” and a consensus target price of $7.17.

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.