Dimensional Fund Advisors LP Purchases 249,959 Shares of ADTRAN, Inc. (ADTN)

Dimensional Fund Advisors LP lifted its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,277,129 shares of the communications equipment provider’s stock after purchasing an additional 249,959 shares during the period. Dimensional Fund Advisors LP owned 6.84% of ADTRAN worth $50,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADTN. Thrivent Financial For Lutherans increased its stake in shares of ADTRAN by 694.7% during the fourth quarter. Thrivent Financial For Lutherans now owns 230,940 shares of the communications equipment provider’s stock worth $4,468,000 after purchasing an additional 201,880 shares during the period. BlackRock Inc. grew its position in ADTRAN by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,219,111 shares of the communications equipment provider’s stock worth $120,339,000 after buying an additional 200,074 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in ADTRAN by 55.8% during the fourth 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 in the last quarter. Wells Fargo & Company MN grew its position in ADTRAN by 121.9% during the first quarter. Wells Fargo & Company MN now owns 268,873 shares of the communications equipment provider’s stock worth $4,181,000 after buying an additional 147,726 shares in the last quarter. Finally, Comerica Bank grew its position in ADTRAN by 194.6% during the first quarter. Comerica Bank now owns 185,534 shares of the communications equipment provider’s stock worth $2,751,000 after buying an additional 122,547 shares in the last quarter. Institutional investors own 93.75% of the company’s stock.

A number of equities research analysts recently issued reports on ADTN shares. ValuEngine downgraded ADTRAN from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a research report on Friday, March 9th. Zacks Investment Research raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Argus downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Thursday, April 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target (down previously from $22.00) on shares of ADTRAN in a research report on Thursday, April 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.32.

Shares of ADTN stock opened at $14.50 on Wednesday. The firm has a market capitalization of $685.17 million, a price-to-earnings ratio of 42.06 and a beta of 0.57. ADTRAN, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $25.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.19 and a current ratio of 3.36.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, April 17th. The communications equipment provider reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.15). The business had revenue of $120.81 million during the quarter, compared to analyst estimates of $126.20 million. ADTRAN had a net margin of 1.30% and a return on equity of 3.33%. During the same period in the prior year, the business posted $0.14 EPS. analysts forecast that ADTRAN, Inc. will post -0.38 earnings per share for the current year.

ADTRAN Profile

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.

Want to see what other hedge funds are holding ADTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADTRAN, Inc. (NASDAQ:ADTN).

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply