Paradigm Capital Management Inc. NY Decreases Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Paradigm Capital Management Inc. NY lowered its position in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,138,621 shares of the communications equipment provider's stock after selling 454,079 shares during the quarter. Ribbon Communications accounts for approximately 2.0% of Paradigm Capital Management Inc. NY's holdings, making the stock its 17th biggest holding. Paradigm Capital Management Inc. NY owned 5.78% of Ribbon Communications worth $42,177,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in 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 valued at $30,793,000 after acquiring an additional 295,524 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ribbon Communications by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock valued at $26,269,000 after purchasing an additional 302,039 shares during the last quarter. Royce & Associates LP increased its stake in shares of Ribbon Communications by 10.5% during the 4th quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider's stock worth $11,660,000 after purchasing an additional 266,580 shares in the last quarter. First Wilshire Securities Management Inc. raised its position in shares of Ribbon Communications by 14.1% during the 4th quarter. First Wilshire Securities Management Inc. now owns 1,334,473 shares of the communications equipment provider's stock worth $5,551,000 after purchasing an additional 164,738 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Ribbon Communications by 7.3% in the 4th quarter. Northern Trust Corp now owns 828,163 shares of the communications equipment provider's stock valued at $3,445,000 after buying an additional 56,461 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on RBBN. JMP Securities reissued a "market outperform" rating and set a $6.00 price target on shares of Ribbon Communications in a research report on Thursday, February 13th. B. Riley decreased their price objective on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. StockNews.com cut Ribbon Communications from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Ribbon Communications in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $5.88.

Ribbon Communications Trading Up 0.3%

Shares of RBBN opened at $3.64 on Tuesday. Ribbon Communications Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $5.38. The company has a market capitalization of $642.62 million, a PE ratio of -11.38 and a beta of 1.36. The stock has a fifty day moving average of $3.61 and a two-hundred day moving average of $3.96. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The business 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 firm earned ($0.01) EPS. Ribbon Communications's revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts forecast that Ribbon Communications Inc. will post 0.18 EPS 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.

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