Point72 Asia Singapore Pte. Ltd. Lowers Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Point72 Asia Singapore Pte. Ltd. lowered its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,809 shares of the communications equipment provider’s stock after selling 1,427 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in ADTRAN were worth $382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in ADTRAN by 11.4% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $741,000 after acquiring an additional 13,478 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in 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 acquiring an additional 263,156 shares in the last quarter. SG Americas Securities LLC increased its holdings in ADTRAN by 24.7% in the 4th 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 during the last quarter. Finally, Kovack Advisors Inc. lifted its stake in ADTRAN by 2.7% in the 4th quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider’s stock worth $6,664,000 after purchasing an additional 21,100 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ADTN shares. Rosenblatt Securities cut their price objective on ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC cut their price target on ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ADTRAN has an average rating of “Moderate Buy” and an average target price of $12.00.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN opened at $8.19 on Friday. The firm has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $8.86. ADTRAN Holdings, Inc. has a 52 week low of $4.62 and a 52 week high of $12.44. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $654.89 million, a P/E ratio of -1.26 and a beta of 1.33.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. On average, analysts expect that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current fiscal year.

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.