Jacobs Levy Equity Management Inc. Buys 237,739 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Jacobs Levy Equity Management Inc. increased its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 25.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,184,939 shares of the communications equipment provider’s stock after acquiring an additional 237,739 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.50% of ADTRAN worth $6,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ADTN. Cape Investment Advisory Inc. bought a new stake in shares of ADTRAN in the 4th quarter worth approximately $27,000. Nisa Investment Advisors LLC grew its position in shares of ADTRAN by 20,809.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock worth $51,000 after buying an additional 6,867 shares during the last quarter. RPO LLC bought a new stake in shares of ADTRAN in the 4th quarter worth approximately $84,000. PEAK6 Investments LLC grew its position in shares of ADTRAN by 28.5% in the 1st quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after buying an additional 3,911 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of ADTRAN by 28.4% in the 4th quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 3,326 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADTN has been the subject of a number of research analyst reports. StockNews.com cut ADTRAN from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research note on Monday, May 20th. Northland Capmk upgraded ADTRAN from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Northland Securities upgraded ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.67.

ADTRAN Stock Up 4.5 %

NASDAQ:ADTN traded up $0.29 during trading hours on Tuesday, reaching $6.73. 890,568 shares of the company traded hands, compared to its average volume of 952,588. The business’s 50-day moving average price is $5.45 and its two-hundred day moving average price is $5.65. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $9.94. The company has a quick ratio of 1.33, a current ratio of 2.46 and a debt-to-equity ratio of 0.73.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The business had revenue of $226.17 million during the quarter, compared to analysts’ expectations of $223.00 million. ADTRAN had a negative return on equity of 18.98% and a negative net margin of 51.42%. On average, equities research analysts expect that ADTRAN Holdings, Inc. will post -0.23 EPS for the current fiscal year.

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.