Vanguard Group Inc Increases Position in ADTRAN, Inc. (ADTN)

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Vanguard Group Inc lifted its holdings in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,136,378 shares of the communications equipment provider’s stock after buying an additional 93,428 shares during the period. Vanguard Group Inc owned approximately 10.78% of ADTRAN worth $90,657,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of ADTRAN by 8.3% in the second quarter. BlackRock Inc. now owns 6,934,364 shares of the communications equipment provider’s stock worth $102,976,000 after buying an additional 531,092 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ADTRAN by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,459,427 shares of the communications equipment provider’s stock worth $51,372,000 after acquiring an additional 182,298 shares during the period. Heartland Advisors Inc. boosted its holdings in ADTRAN by 88.8% during the third quarter. Heartland Advisors Inc. now owns 250,846 shares of the communications equipment provider’s stock worth $4,427,000 after buying an additional 117,984 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ADTRAN by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,136,378 shares of the communications equipment provider’s stock valued at $90,657,000 after purchasing an additional 93,428 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of ADTRAN by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,153,118 shares of the communications equipment provider’s stock valued at $55,652,000 after acquiring an additional 88,790 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN stock opened at $11.77 on Thursday. The firm has a market cap of $553.22 million, a P/E ratio of 13.22 and a beta of 0.93. ADTRAN, Inc. has a one year low of $10.21 and a one year high of $19.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.96 and a current ratio of 2.82.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.17. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. The firm had revenue of $140.34 million for the quarter, compared to the consensus estimate of $146.00 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities analysts anticipate that ADTRAN, Inc. will post -0.32 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. ValuEngine raised ADTRAN from a “hold” rating to a “buy” rating in a research note on Friday, January 4th. Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, October 9th. Needham & Company LLC reduced their target price on ADTRAN from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, October 18th. They noted that the move was a valuation call. Finally, Northland Securities set a $24.00 target price on ADTRAN and gave the company a “buy” rating in a report on Thursday, December 20th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.45.

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About ADTRAN

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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