Vanguard Group Inc. Grows Stock Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Vanguard Group Inc. boosted its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,402,073 shares of the communications equipment provider’s stock after buying an additional 295,524 shares during the period. Vanguard Group Inc.’s holdings in Ribbon Communications were worth $30,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RBBN. Charles Schwab Investment Management Inc. grew its holdings in Ribbon Communications by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock worth $2,479,000 after acquiring an additional 13,984 shares during the period. State Street Corp grew its holdings in shares of Ribbon Communications by 0.4% during the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after buying an additional 7,963 shares in the last quarter. Barclays PLC lifted 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 valued at $553,000 after buying an additional 102,969 shares during the period. Geode Capital Management LLC grew its stake in Ribbon Communications by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after acquiring an additional 27,999 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after purchasing an additional 5,122 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on RBBN. Rosenblatt Securities reissued a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. JMP Securities reiterated a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a report on Thursday, February 13th. Northland Securities raised their price target 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. Finally, StockNews.com cut shares of Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Up 1.7 %

RBBN stock opened at $3.51 on Tuesday. Ribbon Communications Inc. has a 1-year low of $2.47 and a 1-year high of $5.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The firm has a fifty day moving average price of $4.15 and a two-hundred day moving average price of $3.95. The firm has a market cap of $617.52 million, a price-to-earnings ratio of -10.97 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. Research analysts predict 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.