Federated Hermes Inc. Makes New Investment in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Federated Hermes Inc. bought a new position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,139,408 shares of the communications equipment provider’s stock, valued at approximately $8,363,000. Federated Hermes Inc. owned about 1.45% of ADTRAN at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of ADTRAN by 20,809.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock worth $51,000 after purchasing an additional 6,867 shares during the period. PNC Financial Services Group Inc. raised its position in shares of ADTRAN by 91.5% during the third quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 6,179 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of ADTRAN during the third quarter worth about $114,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ADTRAN during the third quarter worth about $119,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ADTRAN by 19.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,185 shares of the communications equipment provider’s stock worth $125,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

ADTN has been the topic of a number of research analyst reports. Rosenblatt Securities dropped their price target on ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of ADTRAN in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, ADTRAN currently has a consensus rating of “Hold” and an average target price of $10.50.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $4.75 on Thursday. The stock has a market capitalization of $375.82 million, a PE ratio of -1.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.64 and a quick ratio of 1.34. The business has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $6.25. ADTRAN Holdings, Inc. has a fifty-two week low of $4.59 and a fifty-two week high of $11.02.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($1.01). The company had revenue of $225.48 million during the quarter, compared to analyst estimates of $232.45 million. ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. As a group, equities analysts predict that ADTRAN Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.

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.