Arrowstreet Capital Limited Partnership Grows Position in AudioCodes Ltd. (NASDAQ:AUDC)

Arrowstreet Capital Limited Partnership grew its position in AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 55.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 527,768 shares of the communications equipment provider's stock after buying an additional 188,074 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.75% of AudioCodes worth $5,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AUDC. Value Base Ltd. purchased a new stake in AudioCodes in the 4th quarter valued at approximately $19,665,000. Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes in the third quarter worth $595,000. JPMorgan Chase & Co. lifted its position in shares of AudioCodes by 95.1% in the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider's stock valued at $1,012,000 after acquiring an additional 50,704 shares in the last quarter. Norges Bank acquired a new stake in shares of AudioCodes during the fourth quarter valued at $120,000. Finally, R Squared Ltd purchased a new stake in AudioCodes during the 4th quarter worth about $97,000. Institutional investors and hedge funds own 68.05% of the company's stock.

Analyst Upgrades and Downgrades

AUDC has been the topic of a number of recent research reports. Barclays upped their target price on shares of AudioCodes from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Wednesday, February 5th. StockNews.com raised shares of AudioCodes from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC raised their target price on shares of AudioCodes from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, February 5th.

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AudioCodes Stock Performance

AudioCodes stock traded up $0.24 during trading on Friday, hitting $8.87. The company's stock had a trading volume of 127,323 shares, compared to its average volume of 84,374. The stock's fifty day moving average is $10.40 and its 200 day moving average is $9.83. AudioCodes Ltd. has a 1-year low of $7.70 and a 1-year high of $12.72. The stock has a market capitalization of $263.26 million, a price-to-earnings ratio of 17.74 and a beta of 1.09.

AudioCodes (NASDAQ:AUDC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. AudioCodes had a net margin of 6.32% and a return on equity of 10.47%. On average, research analysts anticipate that AudioCodes Ltd. will post 0.7 EPS for the current fiscal year.

AudioCodes Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.18 per share. This represents a yield of 3%. The ex-dividend date was Thursday, February 20th. AudioCodes's dividend payout ratio is currently 72.00%.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. 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.