Geode Capital Management LLC Has $6.83 Million Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Geode Capital Management LLC grew its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,101,366 shares of the communications equipment provider’s stock after acquiring an additional 27,999 shares during the quarter. Geode Capital Management LLC owned 1.20% of Ribbon Communications worth $6,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Paradigm Capital Management Inc. NY grew its holdings in shares of 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 valued at $34,698,000 after purchasing an additional 420,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ribbon Communications by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock valued at $19,012,000 after buying an additional 270,972 shares in the last quarter. Royce & Associates LP grew its stake in shares of Ribbon Communications by 18.0% during the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after buying an additional 386,518 shares during the last quarter. State Street Corp increased 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. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Ribbon Communications by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock valued at $2,479,000 after acquiring an additional 13,984 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $4.04 on Friday. The company has a market capitalization of $708.55 million, a price-to-earnings ratio of -12.62 and a beta of 1.12. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. Ribbon Communications Inc. has a twelve month low of $2.46 and a twelve month high of $4.39. The stock has a fifty day simple moving average of $3.97 and a 200 day simple moving average of $3.50.

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

Analysts Set New Price Targets

RBBN has been the topic of a number of research reports. Northland Securities boosted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a report on Monday, December 30th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Ribbon Communications currently has an average rating of “Buy” and an average target price of $6.00.

About Ribbon Communications

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.