AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Down 7.4% in April

AudioCodes Ltd. (NASDAQ:AUDC) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 96,200 shares, a decrease of 7.4% from the March 31st total of 103,900 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 74,800 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AUDC shares. StockNews.com raised AudioCodes from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Barclays raised their target price on shares of AudioCodes from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC lifted their price objective on AudioCodes from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th.

Hedge Funds Weigh In On AudioCodes

Several large investors have recently modified their holdings of AUDC. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AudioCodes during the third quarter worth approximately $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in AudioCodes in the third quarter valued at about $134,000. Quadrature Capital Ltd bought a new stake in shares of AudioCodes in the fourth quarter worth about $166,000. Cornerstone Investment Partners LLC bought a new stake in AudioCodes in the 4th quarter valued at approximately $173,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of AudioCodes in the 3rd quarter valued at approximately $188,000. Institutional investors own 68.05% of the company’s stock.

AudioCodes Stock Performance

Shares of AUDC traded down $0.09 during mid-day trading on Monday, hitting $11.02. 17,712 shares of the company’s stock were exchanged, compared to its average volume of 74,033. The stock’s 50-day moving average is $12.55 and its 200-day moving average is $11.60. AudioCodes has a fifty-two week low of $7.14 and a fifty-two week high of $14.45. The company has a market cap of $334.13 million, a price-to-earnings ratio of 39.46, a P/E/G ratio of 0.66 and a beta of 0.80.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. AudioCodes had a net margin of 3.59% and a return on equity of 7.35%. The company had revenue of $63.56 million for the quarter, compared to analysts’ expectations of $64.18 million. As a group, equities research analysts anticipate that AudioCodes will post 0.68 EPS for the current year.

AudioCodes Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a dividend yield of 2.6%. AudioCodes’s dividend payout ratio (DPR) is currently 128.57%.

AudioCodes Company Profile

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.