Inceptionr LLC Purchases Shares of 19,388 ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Inceptionr LLC purchased a new stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 19,388 shares of the communications equipment provider’s stock, valued at approximately $162,000.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in ADTRAN by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after acquiring an additional 63,960 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of ADTRAN by 39.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock worth $7,708,000 after buying an additional 263,156 shares during the last quarter. Barclays PLC lifted its stake in shares of ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after buying an additional 11,880 shares during the last quarter. State Street Corp lifted its stake in shares of ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of ADTRAN by 99.3% during the 3rd quarter. GSA Capital Partners LLP now owns 491,414 shares of the communications equipment provider’s stock worth $2,914,000 after buying an additional 244,901 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ADTN. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of ADTRAN in a research note on Friday, February 28th. Needham & Company LLC raised their target price on shares of ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Craig Hallum began coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price for the company. Finally, Northland Securities raised their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $13.50.

ADTRAN Price Performance

NASDAQ:ADTN opened at $8.49 on Tuesday. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $12.44. The firm has a market cap of $678.01 million, a price-to-earnings ratio of -1.30 and a beta of 1.29. The firm’s 50-day simple moving average is $10.34 and its 200 day simple moving average is $8.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

About ADTRAN

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.