Thrivent Financial For Lutherans raised its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 694.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 230,940 shares of the communications equipment provider’s stock after acquiring an additional 201,880 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.48% of ADTRAN worth $4,468,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in ADTN. BlackRock Inc. grew its position in ADTRAN by 3.3% in the 4th quarter. BlackRock Inc. now owns 6,219,111 shares of the communications equipment provider’s stock valued at $120,339,000 after acquiring an additional 200,074 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ADTRAN by 55.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 492,238 shares of the communications equipment provider’s stock worth $9,525,000 after buying an additional 176,332 shares during the period. Prudential Financial Inc. lifted its holdings in shares of ADTRAN by 56.0% in the 3rd quarter. Prudential Financial Inc. now owns 434,901 shares of the communications equipment provider’s stock worth $10,438,000 after buying an additional 156,030 shares during the period. Dean Investment Associates LLC lifted its holdings in shares of ADTRAN by 113.5% in the 4th quarter. Dean Investment Associates LLC now owns 282,226 shares of the communications equipment provider’s stock worth $5,461,000 after buying an additional 150,016 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of ADTRAN in the 4th quarter worth $2,390,000. 93.00% of the stock is currently owned by institutional investors.
Shares of ADTRAN, Inc. (NASDAQ ADTN) opened at $15.90 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.72 and a current ratio of 3.87. The firm has a market capitalization of $789.31, a price-to-earnings ratio of 20.12, a P/E/G ratio of 3.02 and a beta of 0.56. ADTRAN, Inc. has a 12 month low of $15.25 and a 12 month high of $25.10.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $126.52 million during the quarter, compared to analysts’ expectations of $125.90 million. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. analysts anticipate that ADTRAN, Inc. will post 0.54 earnings per share for the current fiscal year.
ADTN has been the subject of several research reports. BidaskClub cut ADTRAN from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. MKM Partners lowered their target price on ADTRAN from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, December 29th. Northland Securities reiterated a “buy” rating and issued a $23.00 target price on shares of ADTRAN in a report on Thursday, January 18th. Jefferies Group reiterated a “hold” rating and issued a $17.25 target price on shares of ADTRAN in a report on Thursday, January 18th. Finally, Goldman Sachs upgraded ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 target price for the company in a report on Monday, January 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.41.
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ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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