AudioCodes (NASDAQ:AUDC) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of AudioCodes (NASDAQ:AUDC – Get Rating) in a report published on Thursday. The brokerage issued a strong-buy rating on the communications equipment provider’s stock.

Several other equities research analysts have also recently weighed in on AUDC. Barclays reduced their target price on shares of AudioCodes from $18.00 to $17.00 and set an underweight rating for the company in a research note on Wednesday, February 8th. Needham & Company LLC reduced their target price on shares of AudioCodes from $25.00 to $23.00 and set a buy rating for the company in a research note on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $21.75.

AudioCodes Stock Performance

Shares of NASDAQ:AUDC opened at $14.38 on Thursday. The company has a market cap of $454.98 million, a P/E ratio of 16.53, a P/E/G ratio of 2.11 and a beta of 0.61. The stock’s 50-day moving average is $17.51 and its 200-day moving average is $19.01. AudioCodes has a 52-week low of $13.86 and a 52-week high of $27.86.

AudioCodes Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were paid a dividend of $0.18 per share. This represents a yield of 2%. The ex-dividend date of this dividend was Friday, February 17th. AudioCodes’s dividend payout ratio is 41.38%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crawford Investment Counsel Inc. lifted its stake in AudioCodes by 44.2% during the second quarter. Crawford Investment Counsel Inc. now owns 242,825 shares of the communications equipment provider’s stock worth $5,352,000 after purchasing an additional 74,450 shares during the period. Alpha Paradigm Partners LLC lifted its stake in AudioCodes by 6.2% during the second quarter. Alpha Paradigm Partners LLC now owns 20,206 shares of the communications equipment provider’s stock worth $445,000 after purchasing an additional 1,174 shares during the period. Heartland Advisors Inc. lifted its stake in AudioCodes by 88.8% during the third quarter. Heartland Advisors Inc. now owns 330,450 shares of the communications equipment provider’s stock worth $7,207,000 after purchasing an additional 155,450 shares during the period. Cascade Investment Advisors Inc. increased its holdings in shares of AudioCodes by 18.5% during the third quarter. Cascade Investment Advisors Inc. now owns 38,890 shares of the communications equipment provider’s stock worth $784,000 after buying an additional 6,060 shares in the last quarter. Finally, Copeland Capital Management LLC increased its holdings in shares of AudioCodes by 0.8% during the third quarter. Copeland Capital Management LLC now owns 1,634,218 shares of the communications equipment provider’s stock worth $35,642,000 after buying an additional 13,022 shares in the last quarter. Institutional investors own 44.42% of the company’s stock.

AudioCodes Company Profile

(Get Rating)

AudioCodes Ltd. is engaged in the provision of communications software, products and productivity solutions for the digital workplace. The firm involves in the development, manufacture, and market of products for transferring voice and data over the internet. Its products include products for Microsoft 365, session border controllers, multi-service business routers, meeting rooms, internet protocol phones, digital and analog media gateways, management products and solutions, and voice applications.