First Eagle Investment Management LLC Boosts Stock Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

First Eagle Investment Management LLC boosted its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 24.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,246,807 shares of the communications equipment provider’s stock after acquiring an additional 245,000 shares during the quarter. First Eagle Investment Management LLC owned 1.57% of ADTRAN worth $10,386,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in shares of ADTRAN in the 3rd quarter worth $92,000. Point72 Asset Management L.P. purchased a new stake in shares of ADTRAN in the 3rd quarter worth $114,000. Inceptionr LLC purchased a new stake in shares of ADTRAN in the 4th quarter worth $162,000. Quantinno Capital Management LP bought a new position in shares of ADTRAN in the 3rd quarter worth $120,000. Finally, AlphaQuest LLC bought a new position in shares of ADTRAN in the 4th quarter worth $242,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

ADTN has been the subject of several recent research reports. Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target for the company. Northland Securities boosted their price target on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Needham & Company LLC boosted their price target on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $13.50.

ADTRAN Trading Up 5.0 %

Shares of NASDAQ:ADTN opened at $9.10 on Friday. The business’s 50-day moving average is $10.36 and its 200 day moving average is $8.11. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $12.44. The firm has a market capitalization of $726.73 million, a P/E ratio of -1.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17.

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.