Oberweis Asset Management Inc. purchased a new position in shares of Ribbon Communications Inc (NASDAQ:RBBN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 85,300 shares of the communications equipment provider’s stock, valued at approximately $411,000.

Several other hedge funds also recently bought and sold shares of RBBN. Bank of America Corp DE boosted its holdings in shares of Ribbon Communications by 64.1% during the second quarter. Bank of America Corp DE now owns 122,033 shares of the communications equipment provider’s stock worth $868,000 after purchasing an additional 47,683 shares during the period. Northern Trust Corp raised its position in Ribbon Communications by 10.0% during the second quarter. Northern Trust Corp now owns 614,730 shares of the communications equipment provider’s stock valued at $4,377,000 after acquiring an additional 56,051 shares in the last quarter. First Trust Advisors LP bought a new position in Ribbon Communications during the third quarter valued at approximately $1,898,000. BlackRock Inc. raised its position in Ribbon Communications by 0.7% during the third quarter. BlackRock Inc. now owns 3,566,289 shares of the communications equipment provider’s stock valued at $24,359,000 after acquiring an additional 26,211 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Ribbon Communications by 7.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,589,947 shares of the communications equipment provider’s stock valued at $24,519,000 after acquiring an additional 240,295 shares in the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. BidaskClub lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 12th. ValuEngine raised shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 9th. Finally, Northland Securities reaffirmed a “buy” rating and set a $9.00 price objective on shares of Ribbon Communications in a research report on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.75.

Shares of RBBN opened at $5.22 on Friday. The company has a market cap of $548.58 million, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 0.79 and a beta of 1.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.88 and a current ratio of 0.96. Ribbon Communications Inc has a twelve month low of $4.62 and a twelve month high of $7.89.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, February 20th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $173.00 million for the quarter, compared to analyst estimates of $171.81 million. Ribbon Communications had a negative net margin of 13.29% and a positive return on equity of 8.59%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Analysts predict that Ribbon Communications Inc will post 0.54 earnings per share for the current year.

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About Ribbon Communications

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

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Institutional Ownership by Quarter for Ribbon Communications (NASDAQ:RBBN)

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