Royce & Associates LP Buys 266,580 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Royce & Associates LP increased its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,802,858 shares of the communications equipment provider’s stock after acquiring an additional 266,580 shares during the period. Royce & Associates LP’s holdings in Ribbon Communications were worth $11,660,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Ribbon Communications in the 3rd quarter worth about $34,000. Inceptionr LLC bought a new stake in Ribbon Communications in the 4th quarter worth approximately $104,000. SG Americas Securities LLC boosted its stake in Ribbon Communications by 14.7% in the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after buying an additional 5,122 shares in the last quarter. Bailard Inc. bought a new position in Ribbon Communications during the fourth quarter valued at approximately $314,000. Finally, Barclays PLC raised its stake in shares of Ribbon Communications by 153.4% during the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 102,969 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

RBBN has been the topic of several recent research reports. Northland Securities increased their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. StockNews.com raised Ribbon Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 13th. Finally, JMP Securities restated a “market outperform” rating and set a $6.00 price target on shares of Ribbon Communications in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications Stock Performance

Shares of NASDAQ:RBBN opened at $3.95 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average price of $4.27 and a 200-day moving average price of $3.85. The company has a market cap of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23. Ribbon Communications Inc. has a 12 month low of $2.47 and a 12 month high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. As a group, equities analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Ribbon Communications 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.