Royce & Associates LP Raises Stock Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Royce & Associates LP lifted its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 18.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,536,278 shares of the communications equipment provider’s stock after buying an additional 386,518 shares during the quarter. Royce & Associates LP owned approximately 1.45% of Ribbon Communications worth $8,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paradigm Capital Management Inc. NY increased its holdings in Ribbon Communications by 4.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider’s stock worth $34,698,000 after purchasing an additional 420,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in Ribbon Communications by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock worth $19,012,000 after purchasing an additional 270,972 shares during the period. Victory Capital Management Inc. increased its holdings in Ribbon Communications by 59.4% during the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock worth $1,640,000 after purchasing an additional 188,077 shares during the period. Renaissance Technologies LLC purchased a new position in Ribbon Communications during the 2nd quarter worth $247,000. Finally, Pacific Ridge Capital Partners LLC increased its holdings in Ribbon Communications by 49.0% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 221,334 shares of the communications equipment provider’s stock worth $728,000 after purchasing an additional 72,743 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Stock Down 2.3 %

Shares of NASDAQ RBBN opened at $3.89 on Monday. 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 stock has a market capitalization of $682.23 million, a PE ratio of -12.16 and a beta of 1.08. The stock’s fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $3.29. Ribbon Communications Inc. has a 12-month low of $1.99 and a 12-month high of $4.31.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The business had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Rosenblatt Securities restated a “buy” rating and set a $5.00 price objective on shares of Ribbon Communications in a report on Wednesday, September 25th.

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.