Charles Schwab Investment Management Inc. Purchases 13,984 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Charles Schwab Investment Management Inc. raised its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 762,892 shares of the communications equipment provider’s stock after acquiring an additional 13,984 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ribbon Communications were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Ribbon Communications in the third quarter valued at $34,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Ribbon Communications by 12.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,356 shares of the communications equipment provider’s stock valued at $1,353,000 after buying an additional 46,476 shares during the period. Royce & Associates LP raised 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 valued at $8,243,000 after buying an additional 386,518 shares during the period. Victory Capital Management Inc. raised its stake in shares of Ribbon Communications by 59.4% in the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock valued at $1,640,000 after buying an additional 188,077 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Ribbon Communications by 19.1% in the third quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider’s stock valued at $422,000 after buying an additional 20,826 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Price Performance

Shares of NASDAQ RBBN opened at $4.09 on Monday. The stock has a market cap of $717.30 million, a PE ratio of -12.78 and a beta of 1.14. Ribbon Communications Inc. has a fifty-two week low of $2.46 and a fifty-two week high of $4.31. 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 of $3.74 and a 200-day moving average of $3.39.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. Ribbon Communications’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Equities research analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a “buy” rating and issued a $5.00 target price on shares of Ribbon Communications in a research note on Wednesday, September 25th.

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.