First Eagle Investment Management LLC Has $3.41 Million Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

First Eagle Investment Management LLC grew its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 1,049.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 819,369 shares of the communications equipment provider’s stock after buying an additional 748,090 shares during the quarter. First Eagle Investment Management LLC’s holdings in Ribbon Communications were worth $3,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBBN. Royce & Associates LP lifted its position in shares of Ribbon Communications by 18.0% in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Ribbon Communications by 62.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock worth $2,809,000 after buying an additional 258,909 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter worth about $844,000. Victory Capital Management Inc. lifted its position in shares of Ribbon Communications by 59.4% in the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock worth $1,640,000 after buying an additional 188,077 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Ribbon Communications by 153.4% in 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 during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

RBBN has been the topic of a number of recent analyst reports. Northland Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. JMP Securities reiterated a “market outperform” rating and issued a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Finally, StockNews.com upgraded Ribbon Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ribbon Communications has an average rating of “Buy” and an average price target of $6.00.

Ribbon Communications Trading Up 2.3 %

Shares of RBBN opened at $3.95 on Friday. Ribbon Communications Inc. has a 12-month low of $2.47 and a 12-month 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 has a market capitalization of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23. The stock’s 50-day moving average price is $4.27 and its 200 day moving average price is $3.85.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (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%. As a group, research analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

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.