ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 24.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,246,807 shares of the communications equipment provider’s stock after buying an additional 245,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in ADTRAN were worth $10,386,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in ADTRAN during the 3rd quarter valued at about $92,000. Point72 Asset Management L.P. purchased a new stake in ADTRAN during the 3rd quarter valued at about $114,000. Quantinno Capital Management LP purchased a new stake in ADTRAN during the 3rd quarter valued at about $120,000. Inceptionr LLC purchased a new stake in ADTRAN during the 4th quarter valued at about $162,000. Finally, AlphaQuest LLC purchased a new stake in ADTRAN during the 4th quarter valued at about $242,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADTN. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of ADTRAN in a research note on Friday, February 28th. Northland Securities upped their target price on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Needham & Company LLC upped their target price on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Craig Hallum initiated coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $13.50.

ADTRAN Stock Up 5.0 %

Shares of ADTN opened at $9.10 on Friday. ADTRAN Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $12.44. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $726.73 million, a price-to-earnings ratio of -1.40 and a beta of 1.29. The stock’s 50-day moving average price is $10.36 and its 200-day moving average price is $8.11.

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.