JPMorgan Chase & Co. Decreases Stake in Ribbon Communications Inc. $RBBN

JPMorgan Chase & Co. cut its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,288,073 shares of the communications equipment provider’s stock after selling 1,749,504 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.28% of Ribbon Communications worth $191,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RBBN. Geode Capital Management LLC raised its position in shares of Ribbon Communications by 7.9% in the second quarter. Geode Capital Management LLC now owns 2,303,256 shares of the communications equipment provider’s stock valued at $9,238,000 after purchasing an additional 169,402 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Ribbon Communications by 24.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,476,053 shares of the communications equipment provider’s stock valued at $5,919,000 after buying an additional 286,803 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Ribbon Communications by 16.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,025,914 shares of the communications equipment provider’s stock valued at $4,114,000 after acquiring an additional 145,159 shares during the period. Silverberg Bernstein Capital Management LLC raised its holdings in Ribbon Communications by 9.0% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 427,979 shares of the communications equipment provider’s stock valued at $1,626,000 after acquiring an additional 35,400 shares during the period. Finally, White Pine Capital LLC lifted its position in shares of Ribbon Communications by 17.8% during the second quarter. White Pine Capital LLC now owns 418,957 shares of the communications equipment provider’s stock worth $1,680,000 after acquiring an additional 63,435 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Performance

NASDAQ:RBBN opened at $2.08 on Friday. The stock has a market cap of $367.33 million, a P/E ratio of 9.45 and a beta of 1.07. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $2.64 and its two-hundred day moving average price is $3.24. Ribbon Communications Inc. has a twelve month low of $1.80 and a twelve month high of $5.04.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Thursday, February 5th. The communications equipment provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.11 by $0.48. The company had revenue of $227.32 million during the quarter, compared to analyst estimates of $241.35 million. Ribbon Communications had a return on equity of 27.48% and a net margin of 4.69%.Ribbon Communications’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. As a group, equities analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. B. Riley Financial downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 target price for the company. in a research note on Friday, February 6th. Citizens Jmp decreased their price target on Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a research report on Friday, February 6th. Rosenblatt Securities lowered their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, Northland Securities set a $4.00 price objective on shares of Ribbon Communications in a research note on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.58.

About Ribbon Communications

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.