ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 808,228 shares of the communications equipment provider’s stock after selling 6,622 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of ADTRAN worth $6,733,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of ADTRAN by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock valued at $295,000 after acquiring an additional 7,011 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of ADTRAN by 39.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after buying an additional 263,156 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ADTRAN by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock valued at $741,000 after buying an additional 13,478 shares during the period. Barclays PLC lifted its stake in shares of ADTRAN by 11.4% during the third quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after buying an additional 11,880 shares during the period. Finally, Geode Capital Management LLC raised its stake in ADTRAN by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after purchasing an additional 63,960 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Performance

Shares of ADTN opened at $9.10 on Monday. 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 market capitalization of $726.73 million, a PE ratio of -1.40 and a beta of 1.29. The company’s 50 day moving average price is $10.36 and its 200 day moving average price is $8.17. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $12.44.

Analyst Upgrades and Downgrades

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

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.