William Blair Investment Management LLC Buys Shares of 1,099,019 ADTRAN Holdings, Inc. $ADTN

William Blair Investment Management LLC bought a new stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,099,019 shares of the communications equipment provider’s stock, valued at approximately $15,276,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tieton Capital Management LLC bought a new stake in shares of ADTRAN in the second quarter worth $7,931,000. Arrowstreet Capital Limited Partnership boosted its stake in ADTRAN by 60.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider’s stock valued at $5,732,000 after acquiring an additional 171,145 shares during the last quarter. Heartland Advisors Inc. bought a new position in ADTRAN during the 1st quarter valued at $9,435,000. Sei Investments Co. grew its holdings in ADTRAN by 162.0% during the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after acquiring an additional 683,262 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in ADTRAN by 50.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after acquiring an additional 448,848 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC dropped their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. B. Riley Financial reaffirmed a “buy” rating and set a $21.00 price target (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Northland Securities set a $15.00 price target on ADTRAN in a research note on Wednesday, August 5th. Rosenblatt Securities lowered their price objective on ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, ADTRAN currently has a consensus rating of “Hold” and an average target price of $14.67.

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $7.77 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The firm’s 50-day moving average price is $11.16 and its two-hundred day moving average price is $12.60. ADTRAN Holdings, Inc. has a 52-week low of $7.11 and a 52-week high of $19.98. The stock has a market capitalization of $633.10 million, a P/E ratio of -27.75 and a beta of 1.47.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The company had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that ADTRAN Holdings, Inc. will post 0.16 earnings per share for the current year.

ADTRAN Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.