AudioCodes (NASDAQ:AUDC) Downgraded to "Buy" Rating by StockNews.com

AudioCodes (NASDAQ:AUDC - Get Free Report) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Friday.

Several other research analysts have also commented on AUDC. Needham & Company LLC lifted their price target on AudioCodes from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. 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.

AudioCodes Trading Up 1.7 %

Shares of AUDC stock traded up $0.16 on Friday, reaching $9.39. 90,707 shares of the stock were exchanged, compared to its average volume of 102,703. The business's 50 day moving average price is $9.98 and its 200 day moving average price is $9.80. The company has a market capitalization of $278.70 million, a price-to-earnings ratio of 18.78 and a beta of 1.09. AudioCodes has a twelve month low of $7.70 and a twelve month high of $12.72.

AudioCodes (NASDAQ:AUDC - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping 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%. Equities research analysts forecast that AudioCodes will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Value Base Ltd. acquired a new stake in shares of AudioCodes in the fourth quarter valued at about $19,665,000. Arrowstreet Capital Limited Partnership increased its position in shares of AudioCodes by 55.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,768 shares of the communications equipment provider's stock valued at $5,187,000 after buying an additional 188,074 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of AudioCodes in the 3rd quarter worth about $595,000. JPMorgan Chase & Co. grew 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 purchasing an additional 50,704 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in AudioCodes during the 4th quarter valued at $406,000. 68.05% 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 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.