Herald Investment Management Ltd Lowers Stake in Ribbon Communications Inc. (NASDAQ:RBBN)

Key Points

• Herald Investment Management Ltd has reduced its holdings in Ribbon Communications Inc. by 18.8%, selling 210,809 shares and now owns 912,869 shares valued at approximately $3.58 million.
• Analyst ratings for Ribbon Communications show a mixed perspective; B. Riley cut its price target from $7.50 to $6.00 but maintained a "buy" rating, while the average target price among analysts is currently $6.00.
• The company's last quarterly earnings report showed revenue growth of 14.5% year-over-year, meeting consensus EPS estimates at $0.05, indicating a stable financial performance in a competitive market.

Herald Investment Management Ltd decreased its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 18.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 912,869 shares of the communications equipment provider's stock after selling 210,809 shares during the period. Herald Investment Management Ltd owned approximately 0.52% of Ribbon Communications worth $3,578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ribbon Communications by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider's stock valued at $219,000 after acquiring an additional 2,288 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Ribbon Communications by 2.7% in the fourth quarter. Ameriprise Financial Inc. now owns 136,621 shares of the communications equipment provider's stock worth $568,000 after buying an additional 3,622 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ribbon Communications by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock worth $261,000 after buying an additional 4,978 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Ribbon Communications by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider's stock worth $107,000 after buying an additional 8,485 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Ribbon Communications by 6.1% in the fourth quarter. Barclays PLC now owns 180,551 shares of the communications equipment provider's stock worth $751,000 after buying an additional 10,441 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on RBBN shares. B. Riley reduced their price target on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen upgraded Ribbon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Rosenblatt Securities boosted their price target on Ribbon Communications from $5.50 to $6.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $6.00.

Ribbon Communications Stock Down 0.1%

RBBN stock traded down $0.01 during trading hours on Tuesday, reaching $4.02. 333,355 shares of the stock were exchanged, compared to its average volume of 559,516. The firm's 50-day moving average is $3.92 and its 200-day moving average is $3.90. Ribbon Communications Inc. has a 12 month low of $2.84 and a 12 month high of $5.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.38 and a quick ratio of 1.13. The company has a market cap of $710.98 million, a price-to-earnings ratio of -16.10 and a beta of 1.33.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Ribbon Communications had a negative net margin of 5.14% and a positive return on equity of 7.08%. The firm had revenue of $220.58 million during the quarter, compared to the consensus estimate of $213.31 million. During the same period last year, the business posted $0.05 earnings per share. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts expect 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.