Barclays PLC Has $553,000 Stake in Ribbon Communications Inc. (NASDAQ:RBBN)

Barclays PLC raised its holdings in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 153.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,110 shares of the communications equipment provider's stock after purchasing an additional 102,969 shares during the period. Barclays PLC owned approximately 0.10% of Ribbon Communications worth $553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Paradigm Capital Management Inc. NY increased its position in shares of Ribbon Communications by 4.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider's stock worth $34,698,000 after purchasing an additional 420,000 shares during the period. Royce & Associates LP grew its stake in Ribbon Communications by 18.0% during the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider's stock worth $8,243,000 after buying an additional 386,518 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ribbon Communications by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider's stock valued at $19,012,000 after buying an additional 270,972 shares during the period. Victory Capital Management Inc. raised its position in shares of Ribbon Communications by 59.4% in the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider's stock valued at $1,640,000 after buying an additional 188,077 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Ribbon Communications during the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on RBBN shares. Rosenblatt Securities restated a "buy" rating and set a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities boosted their price target on Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $6.00.

Ribbon Communications Price Performance

Shares of NASDAQ RBBN traded up $0.01 during mid-day trading on Friday, hitting $4.03. 462,093 shares of the stock traded hands, compared to its average volume of 319,358. The company has a market cap of $706.78 million, a PE ratio of -12.59 and a beta of 1.12. Ribbon Communications Inc. has a twelve month low of $2.46 and a twelve month 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 has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $3.56.

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

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.