Vanguard Group Inc. Acquires 295,524 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Vanguard Group Inc. increased its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,402,073 shares of the communications equipment provider's stock after buying an additional 295,524 shares during the quarter. Vanguard Group Inc. owned 4.22% of Ribbon Communications worth $30,793,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in Ribbon Communications in the fourth quarter worth $64,000. Inceptionr LLC bought a new stake in Ribbon Communications in the fourth quarter valued at about $104,000. SG Americas Securities LLC raised its position in 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 worth $166,000 after purchasing an additional 5,122 shares in the last quarter. Bailard Inc. bought a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $314,000. Finally, Barclays PLC lifted its position in shares of Ribbon Communications by 153.4% during the 3rd 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 during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Ribbon Communications Stock Up 1.4 %

Shares of NASDAQ:RBBN traded up $0.05 during midday trading on Friday, reaching $3.58. The company had a trading volume of 378,782 shares, compared to its average volume of 415,429. Ribbon Communications Inc. has a 1-year low of $2.47 and a 1-year high of $5.38. The stock has a market cap of $629.84 million, a PE ratio of -11.19 and a beta of 1.37. 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 business's 50 day moving average price is $4.10 and its 200 day moving average price is $3.96.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 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%. Research analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on RBBN shares. Rosenblatt Securities reiterated a "buy" rating and set a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. JMP Securities reiterated 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, StockNews.com lowered shares of Ribbon Communications from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $6.00.

Ribbon Communications Company 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.