Ribbon Communications Inc. (NASDAQ:RBBN) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 1,049.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 819,369 shares of the communications equipment provider’s stock after purchasing an additional 748,090 shares during the quarter. First Eagle Investment Management LLC owned 0.47% of Ribbon Communications worth $3,409,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of 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 valued at $1,640,000 after purchasing an additional 188,077 shares during the period. Inspire Investing LLC acquired a new position in shares of Ribbon Communications in the 4th quarter worth $844,000. Barclays PLC grew its holdings in shares of Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 102,969 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after acquiring an additional 386,518 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 5,122 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RBBN has been the topic of a number of recent research reports. StockNews.com upgraded Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday. Northland Securities lifted their target price on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ribbon Communications has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock opened at $3.95 on Friday. The stock has a market cap of $694.11 million, a PE ratio of -12.34 and a beta of 1.23. Ribbon Communications Inc. has a 12 month low of $2.47 and a 12 month high of $5.38. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $4.27 and a 200-day simple moving average of $3.85.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. On average, sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

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.