Harbor Capital Advisors Inc. Reduces Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Harbor Capital Advisors Inc. cut its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 36.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,967 shares of the communications equipment provider’s stock after selling 6,939 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in ADTRAN were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ADTN. Blue Trust Inc. lifted its stake in shares of ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 4,177 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of ADTRAN in the third quarter worth $65,000. Point72 DIFC Ltd bought a new stake in shares of ADTRAN in the second quarter worth $69,000. Intech Investment Management LLC acquired a new position in ADTRAN during the 3rd quarter worth $92,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of ADTRAN in the 3rd quarter worth about $114,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADTN shares. Needham & Company LLC lifted their price target on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northland Securities lifted their target price on 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 ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Rosenblatt Securities upgraded shares of ADTRAN from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $10.00 in a research note on Friday, November 8th. Finally, Craig Hallum began coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ADTRAN presently has an average rating of “Buy” and an average target price of $11.50.

ADTRAN Price Performance

NASDAQ ADTN opened at $10.13 on Thursday. The company has a 50-day moving average price of $8.54 and a two-hundred day moving average price of $6.71. The stock has a market cap of $803.37 million, a price-to-earnings 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. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $10.71.

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.