First Eagle Investment Management LLC Increases Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

First Eagle Investment Management LLC increased its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 1,049.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 819,369 shares of the communications equipment provider's stock after purchasing an additional 748,090 shares during the quarter. First Eagle Investment Management LLC owned about 0.47% of Ribbon Communications worth $3,409,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RBBN. Intech Investment Management LLC purchased a new position in shares of Ribbon Communications in the third quarter valued at $34,000. Inceptionr LLC purchased a new position in shares of Ribbon Communications in the fourth quarter valued at $104,000. SG Americas Securities LLC grew its position in shares of Ribbon Communications by 14.7% in the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock valued at $166,000 after purchasing an additional 5,122 shares in the last quarter. Bailard Inc. purchased a new position in Ribbon Communications during the fourth quarter worth about $314,000. Finally, Barclays PLC grew its position in Ribbon Communications by 153.4% during 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. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Trading Down 0.2 %

Shares of NASDAQ RBBN traded down $0.01 during midday trading on Thursday, reaching $4.01. The company had a trading volume of 355,414 shares, compared to its average volume of 390,568. Ribbon Communications Inc. has a one year low of $2.47 and a one year high of $5.38. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The firm's fifty day moving average price is $4.27 and its 200-day moving average price is $3.86. The stock has a market cap of $704.65 million, a PE ratio of -12.53 and a beta of 1.23.

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Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates 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 research analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RBBN shares. Rosenblatt Securities restated a "buy" rating and set a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. StockNews.com upgraded Ribbon Communications from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 13th. JMP Securities restated a "market outperform" rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Finally, Northland Securities boosted their target price on Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $6.00.

Ribbon Communications Profile

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.