Royce & Associates LP Has $12.12 Million Stock Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Key Points

• Royce & Associates LP increased its stake in Ribbon Communications by 10.3% during the first quarter, currently holding approximately 3,092,068 shares valued at $12,121,000.
• Several institutional investors, including Vanguard Group Inc. and Dimensional Fund Advisors LP, have also increased their stakes, with a combined institutional ownership of 70.92% of the stock.
• Wall Street analysts have shown optimism towards Ribbon Communications, with the stock currently holding a consensus rating of "Buy" and an adjusted price target of $6.00.

Royce & Associates LP raised its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,092,068 shares of the communications equipment provider's stock after purchasing an additional 289,210 shares during the period. Royce & Associates LP owned 1.75% of Ribbon Communications worth $12,121,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Walleye Capital LLC bought a new position in Ribbon Communications during the 4th quarter valued at $43,000. Polymer Capital Management US LLC bought a new position in Ribbon Communications during the 4th quarter valued at $55,000. Penn Capital Management Company LLC bought a new position in Ribbon Communications during the 4th quarter valued at $56,000. Renaissance Technologies LLC bought a new position in Ribbon Communications during the 4th quarter valued at $59,000. Finally, Allianz Asset Management GmbH bought a new position in Ribbon Communications during the 1st quarter valued at $57,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Ribbon Communications from a "hold" rating to a "buy" rating in a research report on Saturday. Rosenblatt Securities raised their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, B. Riley cut their price objective on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ribbon Communications presently has a consensus rating of "Buy" and a consensus target price of $6.00.

Ribbon Communications Trading Up 0.9%

Shares of RBBN traded up $0.04 during midday trading on Tuesday, hitting $3.87. The stock had a trading volume of 212,281 shares, compared to its average volume of 559,490. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The firm has a market cap of $682.33 million, a P/E ratio of -15.46 and a beta of 1.36. The business has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $3.92. Ribbon Communications Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share 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 during the quarter, compared to analysts' expectations of $213.31 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities 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.