Engine Capital Management LLC lifted its stake in shares of Sonus Networks, Inc. (NASDAQ:SONS) by 2,521.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,194 shares of the communications equipment provider’s stock after purchasing an additional 252,194 shares during the period. Sonus Networks accounts for about 2.0% of Engine Capital Management LLC’s portfolio, making the stock its 11th largest holding. Engine Capital Management LLC owned approximately 0.53% of Sonus Networks worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in shares of Sonus Networks by 16.4% during the 2nd quarter. First Trust Advisors LP now owns 4,113,269 shares of the communications equipment provider’s stock worth $30,603,000 after purchasing an additional 580,597 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sonus Networks by 10.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,176,565 shares of the communications equipment provider’s stock worth $23,635,000 after purchasing an additional 309,553 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sonus Networks by 16.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock worth $23,439,000 after purchasing an additional 444,006 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Sonus Networks by 19.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,404,604 shares of the communications equipment provider’s stock worth $17,890,000 after purchasing an additional 390,614 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Sonus Networks by 60.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,637,933 shares of the communications equipment provider’s stock worth $12,186,000 after purchasing an additional 619,360 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

SONS has been the topic of several recent research reports. Northland Securities set a $10.00 target price on Sonus Networks and gave the stock a “buy” rating in a report on Tuesday, July 4th. B. Riley reiterated a “neutral” rating and issued a $7.75 price objective on shares of Sonus Networks in a report on Sunday, July 2nd. BidaskClub cut Sonus Networks from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. DA Davidson upgraded Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Monday, August 7th. Finally, Cowen and Company reiterated a “sell” rating and issued a $5.00 price objective on shares of Sonus Networks in a report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.57.

Sonus Networks, Inc. (SONS) traded up 0.38% on Friday, reaching $8.00. The company had a trading volume of 118,434 shares. The stock has a 50 day moving average price of $7.21 and a 200 day moving average price of $7.24. Sonus Networks, Inc. has a 52-week low of $5.51 and a 52-week high of $8.64. The stock’s market capitalization is $397.49 million.

Sonus Networks (NASDAQ:SONS) last announced its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. The firm had revenue of $55.70 million for the quarter, compared to analyst estimates of $53.93 million. During the same quarter last year, the business earned $0.08 earnings per share. Sonus Networks’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that Sonus Networks, Inc. will post $0.25 EPS for the current year.

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Sonus Networks Company Profile

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.

Institutional Ownership by Quarter for Sonus Networks (NASDAQ:SONS)

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