Y.D. More Investments Ltd lessened its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 85.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,545 shares of the communications equipment provider's stock after selling 127,569 shares during the quarter. Y.D. More Investments Ltd owned approximately 0.07% of AudioCodes worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new position in AudioCodes in the 3rd quarter worth $1,618,000. JPMorgan Chase & Co. raised its position in AudioCodes by 95.1% during 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 period. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes during the 3rd quarter valued at $595,000. Marshall Wace LLP lifted its holdings in shares of AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider's stock worth $267,000 after acquiring an additional 7,009 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of AudioCodes by 11.1% during 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. Institutional investors own 68.05% of the company's stock.
AudioCodes Trading Down 1.2 %
Shares of NASDAQ:AUDC traded down $0.15 on Friday, hitting $12.22. 114,606 shares of the company were exchanged, compared to its average volume of 121,751. The stock's 50 day moving average price is $10.03 and its 200 day moving average price is $9.83. AudioCodes Ltd. has a 1-year low of $7.70 and a 1-year high of $14.04. The firm has a market capitalization of $369.25 million, a P/E ratio of 24.44 and a beta of 0.80.
AudioCodes (NASDAQ:AUDC - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 6.32% and a return on equity of 10.47%. On average, equities analysts predict that AudioCodes Ltd. will post 0.7 EPS for the current fiscal year.
AudioCodes Announces Dividend
The business also recently declared a semi-annual dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a dividend yield of 3%. AudioCodes's dividend payout ratio (DPR) is presently 72.00%.
Analyst Ratings Changes
A number of analysts have recently issued reports on AUDC shares. Barclays upped their price target on shares of AudioCodes from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Wednesday. StockNews.com upgraded AudioCodes from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Needham & Company LLC boosted their price objective on shares of AudioCodes from $11.00 to $12.50 and gave the stock a "buy" rating in a research note on Wednesday.
View Our Latest Report on AUDC
AudioCodes Profile
(
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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