Dimensional Fund Advisors LP raised its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,314,669 shares of the communications equipment provider's stock after acquiring an additional 302,039 shares during the period. Dimensional Fund Advisors LP owned 3.60% of Ribbon Communications worth $26,269,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Inspire Investing LLC bought a new position in Ribbon Communications during the 4th quarter worth $844,000. Barclays PLC boosted its stake in Ribbon Communications by 153.4% during the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider's stock valued at $553,000 after purchasing an additional 102,969 shares during the period. SG Americas Securities LLC increased its position in Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock valued at $166,000 after acquiring an additional 5,122 shares during the period. Russell Investments Group Ltd. boosted its position in Ribbon Communications by 323.1% during the 4th quarter. Russell Investments Group Ltd. now owns 158,108 shares of the communications equipment provider's stock worth $658,000 after acquiring an additional 120,743 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock worth $30,793,000 after purchasing an additional 295,524 shares in the last quarter. 70.92% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on RBBN. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a report on Wednesday, April 30th. 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. StockNews.com downgraded Ribbon Communications from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, B. Riley lowered their price target on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $5.88.
Get Our Latest Stock Report on RBBN
Ribbon Communications Price Performance
Shares of NASDAQ RBBN traded up $0.02 during trading on Friday, hitting $3.15. The company had a trading volume of 383,464 shares, compared to its average volume of 410,959. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The company has a market cap of $556.11 million, a P/E ratio of -9.84 and a beta of 1.36. The business's 50-day moving average is $3.67 and its 200 day moving average is $3.96. Ribbon Communications Inc. has a 52 week low of $2.75 and a 52 week high of $5.38.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. The company had revenue of $181.28 million during the quarter, compared to analysts' expectations of $191.66 million. During the same period in the prior year, the business posted ($0.01) EPS. The company's revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.
Ribbon Communications Profile
(
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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