Niles Investment Management LLC Invests $1.30 Million in ADTRAN Holdings, Inc. $ADTN

Niles Investment Management LLC bought a new position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 149,494 shares of the communications equipment provider’s stock, valued at approximately $1,299,000. ADTRAN comprises 1.0% of Niles Investment Management LLC’s holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADTN. AQR Capital Management LLC boosted its stake in shares of ADTRAN by 253.7% in the 1st quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock worth $3,039,000 after buying an additional 249,954 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 1,946 shares during the last quarter. Legal & General Group Plc lifted its stake in ADTRAN by 13.9% in the second quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock valued at $1,018,000 after purchasing an additional 13,821 shares during the last quarter. American Century Companies Inc. lifted its stake in ADTRAN by 11.2% in the second quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider’s stock valued at $2,009,000 after purchasing an additional 22,524 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in ADTRAN by 17.6% in the second quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock valued at $793,000 after purchasing an additional 13,222 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of ADTRAN in a research note on Wednesday, May 6th. Evercore assumed coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research note on Thursday, April 2nd. Finally, Argus upgraded ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

ADTRAN Trading Up 0.4%

NASDAQ:ADTN opened at $15.26 on Friday. The company has a market cap of $1.24 billion, a P/E ratio of -39.13 and a beta of 1.42. The stock’s fifty day moving average price is $15.74 and its two-hundred day moving average price is $11.77. ADTRAN Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $19.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, analysts expect that ADTRAN Holdings, Inc. will post 0.43 EPS for the current year.

About ADTRAN

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.