ADTRAN Holdings, Inc. (NASDAQ:ADTN) Holdings Boosted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,401 shares of the communications equipment provider’s stock after purchasing an additional 5,382 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.28% of ADTRAN worth $1,829,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC bought a new position in ADTRAN during the 3rd quarter worth $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 bought a new position in shares of ADTRAN during the third quarter worth about $120,000. Inceptionr LLC bought a new position in shares of ADTRAN during the fourth quarter worth about $162,000. Finally, AlphaQuest LLC acquired a new stake in shares of ADTRAN in the 4th quarter worth about $242,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Price Performance

NASDAQ ADTN opened at $9.18 on Tuesday. The firm has a market capitalization of $733.11 million, a PE ratio of -1.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44. The company’s 50 day simple moving average is $10.35 and its 200 day simple moving average is $8.19.

Analyst Ratings Changes

Several research analysts have commented on ADTN shares. Northland Securities upped their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. 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. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. Finally, Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target 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’s stock. Based on data from MarketBeat, ADTRAN has an average rating of “Buy” and an average 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.