Heartland Advisors Inc. reduced its stake in shares of AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858,600 shares of the communications equipment provider's stock after selling 51,900 shares during the quarter. Heartland Advisors Inc. owned 2.84% of AudioCodes worth $8,363,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in AudioCodes by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider's stock valued at $509,000 after acquiring an additional 1,419 shares during the period. Blue Trust Inc. raised its stake in shares of AudioCodes by 151.8% in the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 2,185 shares in the last quarter. DGS Capital Management LLC lifted its position in AudioCodes by 72.8% in the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider's stock worth $211,000 after purchasing an additional 9,133 shares during the period. R Squared Ltd acquired a new position in shares of AudioCodes in the 4th quarter valued at $97,000. Finally, Norges Bank bought a new position in AudioCodes during the fourth quarter worth about $120,000. 68.05% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of AudioCodes from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Wednesday, February 5th. StockNews.com upgraded AudioCodes from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC upped their price target 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.
Read Our Latest Report on AUDC
AudioCodes Price Performance
Shares of AudioCodes stock traded up $0.26 on Wednesday, hitting $9.71. 35,694 shares of the company's stock traded hands, compared to its average volume of 81,895. The firm's 50-day moving average price is $10.76 and its two-hundred day moving average price is $9.88. The stock has a market capitalization of $288.19 million, a PE ratio of 19.42 and a beta of 0.86. AudioCodes Ltd. has a one year low of $7.70 and a one year high of $12.76.
AudioCodes (NASDAQ:AUDC - Get Free Report) last released its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. AudioCodes had a return on equity of 10.47% and a net margin of 6.32%. On average, analysts forecast that AudioCodes Ltd. will post 0.7 earnings per share for the current fiscal year.
AudioCodes Announces Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued 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%.
AudioCodes Company Profile
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Free Report)
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.
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