Franklin Resources Inc. Has $4.89 Million Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Franklin Resources Inc. reduced its position in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,482,698 shares of the communications equipment provider's stock after selling 340,204 shares during the period. Franklin Resources Inc. owned approximately 0.85% of Ribbon Communications worth $4,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Ribbon Communications during the 3rd quarter worth $34,000. MQS Management LLC acquired a new position in shares of Ribbon Communications in the second quarter worth about $100,000. SG Americas Securities LLC boosted its holdings in Ribbon Communications by 81.3% in the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider's stock valued at $113,000 after purchasing an additional 15,604 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Ribbon Communications during the 2nd quarter valued at approximately $132,000. Finally, AQR Capital Management LLC purchased a new stake in Ribbon Communications during the 2nd quarter worth approximately $137,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Ribbon Communications Stock Up 3.1 %

Ribbon Communications stock traded up $0.13 during mid-day trading on Tuesday, hitting $4.30. The company's stock had a trading volume of 147,192 shares, compared to its average volume of 369,715. The company has a market cap of $754.15 million, a PE ratio of -13.44 and a beta of 1.14. Ribbon Communications Inc. has a 52-week low of $2.46 and a 52-week high of $4.39. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The firm's 50 day moving average is $3.84 and its 200 day moving average is $3.43.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.00 price target on shares of Ribbon Communications in a report on Wednesday, September 25th. Northland Securities boosted their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $5.88.

About Ribbon Communications

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.