LPL Financial LLC Sells 8,995 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

LPL Financial LLC decreased its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 47.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,095 shares of the communications equipment provider’s stock after selling 8,995 shares during the quarter. LPL Financial LLC’s holdings in Ribbon Communications were worth $42,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in Ribbon Communications during the 4th quarter valued at $64,000. Inceptionr LLC purchased a new stake in Ribbon Communications in the fourth quarter worth about $104,000. SG Americas Securities LLC increased its position in Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 5,122 shares during the period. Bailard Inc. bought a new stake in shares of Ribbon Communications in the 4th quarter valued at about $314,000. Finally, Rhumbline Advisers lifted its position in shares of Ribbon Communications by 9.9% in the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after purchasing an additional 13,990 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $3.23 on Friday. Ribbon Communications Inc. has a 12-month low of $2.75 and a 12-month high of $5.38. The business’s fifty day simple moving average is $3.85 and its 200-day simple moving average is $3.97. 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 $568.26 million, a PE ratio of -10.09 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $181.28 million for the quarter, compared to analyst estimates of $191.66 million. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. Analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RBBN. B. Riley cut their price objective on shares of Ribbon Communications from $7.50 to $6.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a report on Wednesday. JMP Securities restated a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, StockNews.com downgraded Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ribbon Communications presently has an average rating of “Buy” and an average target price of $5.88.

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.