Needham & Company LLC reiterated their buy rating on shares of AudioCodes (NASDAQ:AUDC – Free Report) in a report released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $16.00 price target on the communications equipment provider’s stock.
Several other analysts also recently commented on AUDC. StockNews.com initiated coverage on shares of AudioCodes in a report on Thursday, May 18th. They set a buy rating for the company. Jefferies Financial Group cut their price objective on shares of AudioCodes from $18.00 to $10.00 in a report on Tuesday, May 9th. Barclays cut their price objective on shares of AudioCodes from $17.00 to $9.00 in a report on Wednesday, May 10th. Finally, Bank of America downgraded shares of AudioCodes from a neutral rating to an underperform rating and cut their price objective for the company from $22.00 to $9.50 in a report on Wednesday, April 12th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $11.13.
AudioCodes Stock Performance
Shares of AUDC stock opened at $11.27 on Wednesday. The company has a market capitalization of $357.15 million, a price-to-earnings ratio of 26.83, a PEG ratio of 10.00 and a beta of 0.57. The company has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $12.53. AudioCodes has a 52 week low of $8.05 and a 52 week high of $23.91.
AudioCodes (NASDAQ:AUDC – Get Free Report) last announced its earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.22). The company had revenue of $59.21 million for the quarter. AudioCodes had a return on equity of 8.88% and a net margin of 5.31%. Sell-side analysts forecast that AudioCodes will post 0.26 EPS for the current year.
AudioCodes Dividend Announcement
The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a $0.18 dividend. This represents a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 16th. AudioCodes’s payout ratio is presently 85.71%.
Hedge Funds Weigh In On AudioCodes
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Alpha Capital Management Ltd. raised its position in shares of AudioCodes by 7.4% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 2,160,758 shares of the communications equipment provider’s stock valued at $31,871,000 after buying an additional 148,334 shares in the last quarter. William Blair Investment Management LLC grew its holdings in AudioCodes by 0.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,511,469 shares of the communications equipment provider’s stock worth $22,793,000 after acquiring an additional 9,950 shares during the last quarter. Copeland Capital Management LLC grew its holdings in AudioCodes by 0.6% during the 2nd quarter. Copeland Capital Management LLC now owns 1,253,114 shares of the communications equipment provider’s stock worth $11,441,000 after acquiring an additional 7,485 shares during the last quarter. Acadian Asset Management LLC grew its holdings in AudioCodes by 23.5% during the 1st quarter. Acadian Asset Management LLC now owns 843,110 shares of the communications equipment provider’s stock worth $12,691,000 after acquiring an additional 160,181 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of AudioCodes by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 799,377 shares of the communications equipment provider’s stock valued at $17,434,000 after purchasing an additional 48,250 shares during the last quarter. 45.99% of the stock is currently owned by institutional investors and hedge funds.
About AudioCodes
AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, VoiceAI business line, and service provider business. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.
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