Royce & Associates LP Purchases Shares of 487,500 ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Royce & Associates LP acquired a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 487,500 shares of the communications equipment provider’s stock, valued at approximately $4,061,000.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in shares of ADTRAN in the third quarter worth about $92,000. Point72 Asset Management L.P. bought a new position in shares of ADTRAN in the third quarter worth about $114,000. Quantinno Capital Management LP bought a new position in shares of ADTRAN in the third quarter worth about $120,000. Inceptionr LLC bought a new position in shares of ADTRAN in the fourth quarter worth about $162,000. Finally, Catalyst Funds Management Pty Ltd boosted its stake in shares of ADTRAN by 6.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after acquiring an additional 1,300 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

NASDAQ:ADTN opened at $9.00 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $718.74 million, a P/E ratio of -1.38 and a beta of 1.29. ADTRAN Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $12.44. The business’s 50-day moving average is $10.31 and its 200 day moving average is $8.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADTN shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of ADTRAN in a research note on Friday, February 28th. 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. Craig Hallum assumed coverage on ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Northland Securities boosted 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. One research 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, ADTRAN presently has a consensus rating of “Buy” and an average price target of $13.50.

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.