Royce & Associates LP Raises Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Royce & Associates LP increased its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its stake 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 valued at $1,640,000 after buying an additional 188,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Ribbon Communications by 12.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,356 shares of the communications equipment provider’s stock worth $1,353,000 after acquiring an additional 46,476 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Ribbon Communications in the 3rd quarter worth about $34,000. Charles Schwab Investment Management Inc. lifted its holdings in Ribbon Communications by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock valued at $2,479,000 after purchasing an additional 13,984 shares during the last quarter. Finally, State Street Corp boosted its position in Ribbon Communications by 0.4% during the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after purchasing an additional 7,963 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $3.95 on Tuesday. The firm has a fifty day moving average price of $4.27 and a two-hundred day moving average price of $3.85. The company has a market cap of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. Ribbon Communications Inc. has a one year low of $2.47 and a one year high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data 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%. Analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Ribbon Communications 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.