First Wilshire Securities Management Inc. Acquires 164,738 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

First Wilshire Securities Management Inc. raised its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,334,473 shares of the communications equipment provider's stock after acquiring an additional 164,738 shares during the quarter. Ribbon Communications makes up about 1.5% of First Wilshire Securities Management Inc.'s investment portfolio, making the stock its 23rd biggest position. First Wilshire Securities Management Inc. owned about 0.76% of Ribbon Communications worth $5,551,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RBBN. Intech Investment Management LLC bought a new stake in Ribbon Communications during the 3rd quarter valued at approximately $34,000. Charles Schwab Investment Management Inc. grew its holdings in Ribbon Communications by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider's stock valued at $2,479,000 after buying an additional 13,984 shares in the last quarter. State Street Corp raised its position in shares of Ribbon Communications by 0.4% during the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider's stock valued at $6,171,000 after buying an additional 7,963 shares during the last quarter. Barclays PLC lifted its holdings in shares of Ribbon Communications by 153.4% in the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider's stock worth $553,000 after buying an additional 102,969 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ribbon Communications by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider's stock worth $6,830,000 after acquiring an additional 27,999 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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Ribbon Communications Price Performance

Shares of NASDAQ RBBN traded down $0.14 during mid-day trading on Friday, hitting $3.38. 588,327 shares of the company's stock traded hands, compared to its average volume of 409,754. The company has a market capitalization of $593.95 million, a P/E ratio of -10.56 and a beta of 1.37. Ribbon Communications Inc. has a 1 year low of $2.47 and a 1 year high of $5.38. 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 company's 50-day moving average is $4.24 and its two-hundred day moving average is $3.94.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. On average, equities analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Ribbon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st. Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities raised their price target on Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $6.00.

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.