Franklin Resources Inc. Lowers Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Franklin Resources Inc. reduced its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,300,343 shares of the communications equipment provider's stock after selling 182,355 shares during the quarter. Franklin Resources Inc. owned 0.74% of Ribbon Communications worth $5,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RBBN. KLP Kapitalforvaltning AS acquired a new position in Ribbon Communications during the fourth quarter worth $64,000. Inceptionr LLC purchased a new stake in shares of Ribbon Communications in the 4th quarter valued at $104,000. SG Americas Securities LLC lifted its stake in Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock worth $166,000 after acquiring an additional 5,122 shares in the last quarter. Bailard Inc. purchased a new position in Ribbon Communications during the 4th quarter valued at about $314,000. Finally, Rhumbline Advisers grew its position in Ribbon Communications by 9.9% in the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider's stock valued at $648,000 after acquiring an additional 13,990 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Ribbon Communications Stock Down 1.0 %

NASDAQ:RBBN traded down $0.04 during trading hours on Wednesday, hitting $3.59. The company's stock had a trading volume of 32,221 shares, compared to its average volume of 414,617. Ribbon Communications Inc. has a 52-week low of $2.47 and a 52-week high of $5.38. The stock has a market capitalization of $630.72 million, a P/E ratio of -11.17 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $4.14 and a 200-day moving average of $3.95.

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Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 6.50% and a positive return on equity of 7.36%. On average, equities analysts forecast that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RBBN shares. Northland Securities increased their price target 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. Rosenblatt Securities reissued a "buy" rating and issued a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. JMP Securities reaffirmed a "market outperform" rating and set a $6.00 price objective on shares of Ribbon Communications in a research report on Thursday, February 13th. Finally, StockNews.com lowered Ribbon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock 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.