15,453 Shares in ADTRAN Holdings, Inc. (NASDAQ:ADTN) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,453 shares of the communications equipment provider’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares during the period. Park Avenue Securities LLC purchased a new position in ADTRAN during the third quarter valued at approximately $65,000. Point72 DIFC Ltd bought a new position in shares of ADTRAN in the second quarter worth approximately $69,000. SG Americas Securities LLC purchased a new stake in shares of ADTRAN in the second quarter worth $90,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of ADTRAN by 94.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 9,202 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rosenblatt Securities raised shares of ADTRAN from a “neutral” rating to a “buy” rating and upped their target price for the stock from $6.00 to $10.00 in a report on Friday, November 8th. Needham & Company LLC upped their price objective on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ADTRAN has an average rating of “Buy” and an average target price of $9.50.

ADTRAN Stock Performance

ADTN opened at $8.43 on Monday. The stock has a market capitalization of $668.58 million, a price-to-earnings ratio of -1.29 and a beta of 1.29. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $9.05. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The company has a fifty day moving average of $7.04 and a 200 day moving average of $6.01.

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.