Victory Capital Management Inc. Purchases New Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Victory Capital Management Inc. purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 121,500 shares of the communications equipment provider’s stock, valued at approximately $1,012,000. Victory Capital Management Inc. owned approximately 0.15% of ADTRAN at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ADTN. Intech Investment Management LLC acquired a new stake in shares of ADTRAN during the 3rd quarter valued at approximately $92,000. Point72 Asset Management L.P. bought a new position in ADTRAN during the 3rd quarter worth $114,000. Quantinno Capital Management LP bought a new position in ADTRAN during the 3rd quarter worth $120,000. State Street Corp grew its stake in ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares during the last quarter. Finally, Barclays PLC grew its stake in ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after buying an additional 11,880 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ADTN shares. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th. Northland Securities upped their price objective on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Needham & Company LLC upped their price objective on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Craig Hallum started coverage on ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.50.

ADTRAN Trading Up 0.4 %

NASDAQ:ADTN opened at $9.04 on Friday. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $12.44. The stock has a market cap of $721.93 million, a price-to-earnings ratio of -1.39 and a beta of 1.29. The business has a fifty day moving average of $10.28 and a 200-day moving average of $8.23. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

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.