Royce & Associates LP grew its position in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,802,858 shares of the communications equipment provider's stock after purchasing an additional 266,580 shares during the quarter. Royce & Associates LP owned approximately 1.60% of Ribbon Communications worth $11,660,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of RBBN. Intech Investment Management LLC bought a new stake in shares of Ribbon Communications during the 3rd quarter valued at about $34,000. Inceptionr LLC bought a new position in shares of Ribbon Communications during the 4th quarter worth approximately $104,000. SG Americas Securities LLC grew its position in shares of 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 buying an additional 5,122 shares during the period. Bailard Inc. acquired a new stake in shares of Ribbon Communications during the 4th quarter worth approximately $314,000. Finally, Barclays PLC increased its stake in shares of Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider's stock valued at $553,000 after acquiring an additional 102,969 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RBBN has been the subject of a number of research reports. Northland Securities raised their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued 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 report on Thursday, March 13th. Finally, JMP Securities reissued a "market outperform" rating and issued a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $6.00.
View Our Latest Report on RBBN
Ribbon Communications Stock Performance
Shares of RBBN remained flat at $4.01 on Friday. 671,384 shares of the company were exchanged, compared to its average volume of 392,057. The firm has a market cap of $704.65 million, a PE ratio of -12.53 and a beta of 1.23. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. Ribbon Communications Inc. has a 12 month low of $2.47 and a 12 month high of $5.38. The company has a fifty day moving average of $4.27 and a two-hundred day moving average of $3.86.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.
Ribbon Communications Company Profile
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Free Report)
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.
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