Value Base Ltd. Buys New Position in AudioCodes Ltd. (NASDAQ:AUDC)

Value Base Ltd. purchased a new stake in AudioCodes Ltd. (NASDAQ:AUDC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,018,976 shares of the communications equipment provider's stock, valued at approximately $19,665,000. AudioCodes makes up approximately 12.0% of Value Base Ltd.'s portfolio, making the stock its 4th largest holding. Value Base Ltd. owned approximately 6.68% of AudioCodes as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Senvest Management LLC boosted its holdings in AudioCodes by 1.5% in the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider's stock valued at $25,108,000 after purchasing an additional 37,080 shares during the period. JPMorgan Chase & Co. raised 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 buying an additional 50,704 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of AudioCodes by 11.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider's stock valued at $893,000 after buying an additional 9,150 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in AudioCodes during the third quarter worth approximately $595,000. Finally, Bank of New York Mellon Corp increased its stake in AudioCodes by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider's stock worth $509,000 after acquiring an additional 1,419 shares during the period. 68.05% of the stock is owned by institutional investors.

Remove Ads

Analyst Ratings Changes

A number of analysts have recently weighed in on AUDC shares. StockNews.com upgraded AudioCodes from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Barclays lifted their price target on AudioCodes from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC upped their price objective on AudioCodes from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, February 5th.

AudioCodes Trading Down 0.6 %

NASDAQ:AUDC traded down $0.06 on Tuesday, hitting $9.95. The company had a trading volume of 52,740 shares, compared to its average volume of 81,708. AudioCodes Ltd. has a 52 week low of $7.70 and a 52 week high of $13.57. The stock has a market capitalization of $300.66 million, a price-to-earnings ratio of 19.90 and a beta of 0.86. The firm has a 50 day moving average of $10.88 and a two-hundred day moving average of $9.88.

AudioCodes (NASDAQ:AUDC - Get Free Report) last announced its quarterly earnings results 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 return on equity of 10.47% and a net margin of 6.32%. As a group, equities analysts forecast that AudioCodes Ltd. will post 0.7 EPS for the current year.

AudioCodes Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.18 per share. This represents a dividend yield of 3%. The ex-dividend date was Thursday, February 20th. AudioCodes's dividend payout ratio (DPR) 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.