Royce & Associates LP lifted its holdings in Ribbon Communications Inc (NASDAQ:RBBN) by 10.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,907,546 shares of the communications equipment provider’s stock after purchasing an additional 181,950 shares during the period. Royce & Associates LP’s holdings in Ribbon Communications were worth $13,029,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of RBBN. Rice Hall James & Associates LLC bought a new position in shares of Ribbon Communications in the second quarter worth about $881,000. Virginia Retirement Systems ET AL bought a new position in shares of Ribbon Communications in the second quarter worth about $396,000. Boston Partners increased its stake in shares of Ribbon Communications by 11.6% in the second quarter. Boston Partners now owns 864,580 shares of the communications equipment provider’s stock worth $6,156,000 after purchasing an additional 89,730 shares during the period. Rhumbline Advisers increased its stake in shares of Ribbon Communications by 17.0% in the second quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock worth $388,000 after purchasing an additional 7,912 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Ribbon Communications by 13.2% in the second quarter. Russell Investments Group Ltd. now owns 1,515,635 shares of the communications equipment provider’s stock worth $10,789,000 after purchasing an additional 176,210 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.

Shares of RBBN opened at $5.19 on Thursday. Ribbon Communications Inc has a 12-month low of $4.96 and a 12-month high of $8.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market cap of $552.84 million, a P/E ratio of 74.14, a PEG ratio of 0.99 and a beta of 1.49.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, October 30th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.06. Ribbon Communications had a positive return on equity of 6.72% and a negative net margin of 16.28%. The firm had revenue of $152.46 million for the quarter, compared to analyst estimates of $138.40 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 104.4% compared to the same quarter last year. Analysts anticipate that Ribbon Communications Inc will post 0.44 EPS for the current fiscal year.

A number of research firms have recently commented on RBBN. BidaskClub lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a research note on Wednesday, November 7th. ValuEngine lowered Ribbon Communications from a “sell” rating to a “strong sell” rating in a research note on Monday, October 8th. Finally, National Securities began coverage on Ribbon Communications in a research note on Monday, October 22nd. They set a “buy” rating and a $8.50 price target on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Ribbon Communications currently has a consensus rating of “Hold” and a consensus price target of $8.13.

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About Ribbon Communications

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

Read More: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for Ribbon Communications (NASDAQ:RBBN)

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