Ribbon Communications Inc. (NASDAQ:RBBN) Position Increased by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. boosted its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 14.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,334,473 shares of the communications equipment provider’s stock after purchasing an additional 164,738 shares during the quarter. Ribbon Communications makes up approximately 1.5% of First Wilshire Securities Management Inc.’s holdings, making the stock its 23rd largest position. First Wilshire Securities Management Inc. owned approximately 0.76% of Ribbon Communications worth $5,551,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Ribbon Communications during the third quarter valued at $34,000. KLP Kapitalforvaltning AS bought a new stake in Ribbon Communications in the 4th quarter valued at about $64,000. Inceptionr LLC acquired a new position in Ribbon Communications during the 4th quarter valued at about $104,000. SG Americas Securities LLC grew its position in 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 purchasing an additional 5,122 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at approximately $314,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Stock Performance

Shares of NASDAQ RBBN opened at $3.84 on Wednesday. Ribbon Communications Inc. has a 1 year low of $2.47 and a 1 year high of $5.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The stock has a fifty day moving average price of $4.27 and a two-hundred day moving average price of $3.93. The firm has a market cap of $674.78 million, a P/E ratio of -12.00 and a beta of 1.23.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate 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%. Research analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RBBN shares. 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 reissued a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a research note on Monday, December 30th. StockNews.com cut shares of Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications 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.