MetLife Investment Advisors LLC raised its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 54.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,392 shares of the communications equipment provider’s stock after acquiring an additional 13,202 shares during the quarter. MetLife Investment Advisors LLC’s holdings in ADTRAN were worth $660,000 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 the business. Legal & General Group Plc grew its position in ADTRAN by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 102,355 shares of the communications equipment provider’s stock valued at $1,517,000 after acquiring an additional 4,017 shares during the last quarter. Chartwell Investment Partners LLC grew its position in shares of ADTRAN by 5.3% during the 3rd quarter. Chartwell Investment Partners LLC now owns 87,475 shares of the communications equipment provider’s stock worth $1,544,000 after buying an additional 4,405 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of ADTRAN during the 3rd quarter worth $195,000. Dynamic Technology Lab Private Ltd bought a new position in shares of ADTRAN during the 3rd quarter worth $196,000. Finally, SG Americas Securities LLC bought a new position in shares of ADTRAN during the 3rd quarter worth $224,000. 94.62% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 9th. ValuEngine downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Needham & Company LLC dropped their price target on ADTRAN from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, October 18th. They noted that the move was a valuation call. Finally, MKM Partners dropped their price target on ADTRAN to $17.00 and set a “buy” rating on the stock in a research report on Thursday, December 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $17.45.
ADTN opened at $11.77 on Thursday. ADTRAN, Inc. has a 12-month low of $10.21 and a 12-month high of $19.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 1.96.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating 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 company had revenue of $140.34 million for the quarter, compared to the consensus estimate of $146.00 million. During the same quarter last year, the company earned $0.33 earnings per share. As a group, research analysts forecast that ADTRAN, Inc. will post -0.32 earnings per share for the current fiscal year.
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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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