ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by Barclays PLC

Barclays PLC lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,741 shares of the communications equipment provider’s stock after purchasing an additional 11,880 shares during the quarter. Barclays PLC owned about 0.15% of ADTRAN worth $686,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in ADTRAN by 17.9% in the second quarter. American Century Companies Inc. now owns 90,343 shares of the communications equipment provider’s stock valued at $475,000 after purchasing an additional 13,688 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of ADTRAN by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after buying an additional 2,396 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock valued at $1,472,000 after buying an additional 3,638 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of ADTRAN by 26.4% in the second quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after buying an additional 142,100 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in ADTRAN by 327.5% during the second quarter. Hsbc Holdings PLC now owns 53,065 shares of the communications equipment provider’s stock worth $282,000 after acquiring an additional 40,653 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Northland Securities boosted 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. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Craig Hallum began coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of ADTRAN in a report on Thursday. Finally, Rosenblatt Securities raised ADTRAN from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.00 to $10.00 in a research note on Friday, November 8th. One equities research 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. Based on data from MarketBeat, ADTRAN presently has a consensus rating of “Buy” and an average target price of $11.50.

ADTRAN Stock Performance

Shares of ADTN opened at $10.13 on Friday. ADTRAN Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $10.71. The stock has a market cap of $803.41 million, a P/E ratio of -1.56 and a beta of 1.28. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $8.62 and a two-hundred day moving average of $6.73.

ADTRAN Company 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.