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Herald Investment Management Ltd Trims Stock Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Ribbon Communications logo with Computer and Technology background

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.
  • Looking to Export and Analyze Ribbon Communications Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

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

A number of other hedge funds and other institutional investors have also bought and sold shares of RBBN. Dimensional Fund Advisors LP grew its stake in shares of Ribbon Communications by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock worth $26,269,000 after buying an additional 302,039 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ribbon Communications by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock worth $30,793,000 after buying an additional 295,524 shares during the last quarter. Royce & Associates LP grew its stake in shares of Ribbon Communications by 10.3% in the 1st quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider's stock worth $12,121,000 after buying an additional 289,210 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Ribbon Communications in the 1st quarter worth approximately $619,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Ribbon Communications by 323.1% in the 4th quarter. Russell Investments Group Ltd. now owns 158,108 shares of the communications equipment provider's stock worth $658,000 after buying an additional 120,743 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Analyst Upgrades and Downgrades

RBBN has been the topic of several analyst reports. B. Riley lowered their price objective 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. Wall Street Zen raised Ribbon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Rosenblatt Securities upped their price objective on Ribbon Communications from $5.50 to $6.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $6.00.

Check Out Our Latest Research Report on RBBN

Ribbon Communications Stock Performance

Shares of NASDAQ RBBN traded up $0.01 during midday trading on Friday, hitting $3.79. 236,456 shares of the stock traded hands, compared to its average volume of 573,328. The firm has a 50-day moving average of $3.91 and a two-hundred day moving average of $3.90. The firm has a market capitalization of $671.13 million, a P/E ratio of -15.16 and a beta of 1.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.38. Ribbon Communications Inc. has a one year low of $2.84 and a one year high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. Ribbon Communications had a positive return on equity of 7.08% and a negative net margin of 5.14%. The company had revenue of $220.58 million for the quarter, compared to analysts' expectations of $213.31 million. During the same period last year, the firm earned $0.05 EPS. Ribbon Communications's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

About Ribbon Communications

(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.

See Also

Institutional Ownership by Quarter for Ribbon Communications (NASDAQ:RBBN)

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