Inspire Investing LLC Invests $844,000 in Ribbon Communications Inc. (NASDAQ:RBBN)

Inspire Investing LLC bought a new position in Ribbon Communications Inc. (NASDAQ:RBBN) during the fourth quarter, Holdings Channel reports. The firm bought 202,858 shares of the communications equipment provider’s stock, valued at approximately $844,000.

A number of other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of 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 worth $19,012,000 after buying an additional 270,972 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Ribbon Communications by 18.0% in 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. Geode Capital Management LLC boosted its stake in shares of Ribbon Communications by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after buying an additional 27,999 shares during the last quarter. State Street Corp raised its holdings in Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after purchasing an additional 7,963 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 worth $2,479,000 after purchasing an additional 13,984 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Northland Securities upped their price target 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 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 data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock opened at $4.11 on Friday. The business has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $3.59. Ribbon Communications Inc. has a 12 month low of $2.46 and a 12 month high of $4.39. The stock has a market capitalization of $720.81 million, a P/E ratio of -12.84 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.17 million. During the same period in the previous year, the company earned $0.03 EPS. Ribbon Communications’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

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.