Voya Investment Management LLC Reduces Stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Voya Investment Management LLC cut its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,688 shares of the communications equipment provider’s stock after selling 2,117 shares during the period. Voya Investment Management LLC owned 0.06% of ADTRAN worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its position in ADTRAN by 6,537,000.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 65,371 shares of the communications equipment provider’s stock worth $545,000 after buying an additional 65,370 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ADTRAN by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,986 shares of the communications equipment provider’s stock worth $825,000 after acquiring an additional 6,121 shares during the last quarter. Susquehanna Advisors Group Inc. purchased a new position in shares of ADTRAN during the 4th quarter worth about $813,000. Hsbc Holdings PLC grew its holdings in ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock valued at $122,000 after purchasing an additional 1,501 shares during the last quarter. Finally, SIH Partners LLLP purchased a new stake in ADTRAN in the 4th quarter worth about $107,000. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ADTN shares. Needham & Company LLC reduced their price target on ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. Rosenblatt Securities lowered their target price on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.00.

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $7.71 on Friday. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44. The firm has a market cap of $616.51 million, a PE ratio of -1.18 and a beta of 1.33. The business has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $8.83. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping 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%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 earnings per share. Analysts expect that ADTRAN Holdings, Inc. will post -0.5 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.