Ribbon Communications Inc. (NASDAQ:RBBN) Shares Purchased by Barclays PLC

Barclays PLC boosted its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 153.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 170,110 shares of the communications equipment provider’s stock after buying an additional 102,969 shares during the period. Barclays PLC owned 0.10% of Ribbon Communications worth $553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Ribbon Communications by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock worth $1,429,000 after acquiring an additional 31,644 shares during the period. Rhumbline Advisers increased its position in Ribbon Communications by 4.6% during the second quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock worth $502,000 after purchasing an additional 6,668 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ribbon Communications by 4.9% during the second 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. Renaissance Technologies LLC acquired a new position in shares of Ribbon Communications in the 2nd quarter valued at $247,000. Finally, XTX Topco Ltd grew its stake in shares of Ribbon Communications by 6.3% during the 2nd quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock valued at $263,000 after buying an additional 4,746 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on RBBN shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities upped their price target on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.00.

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $4.03 on Friday. 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 company has a market cap of $706.78 million, a PE ratio of -12.59 and a beta of 1.12. The company’s fifty day simple moving average is $4.01 and its 200-day simple moving average is $3.56. Ribbon Communications Inc. has a 52 week low of $2.46 and a 52 week high of $4.39.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS 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 analysts’ expectations 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 revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. As a group, equities research analysts anticipate that Ribbon Communications Inc. will post 0.13 EPS for the current year.

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.