AudioCodes (NASDAQ:AUDC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other analysts also recently commented on AUDC. Zacks Research upgraded shares of AudioCodes from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.25.

AudioCodes Price Performance

NASDAQ AUDC opened at $8.36 on Friday. The company has a fifty day moving average of $8.89 and a two-hundred day moving average of $9.39. AudioCodes has a 1 year low of $8.01 and a 1 year high of $12.72. The company has a market capitalization of $239.76 million, a PE ratio of 18.17 and a beta of 1.04.

Institutional Trading of AudioCodes

Several large investors have recently bought and sold shares of AUDC. Verition Fund Management LLC purchased a new stake in shares of AudioCodes in the 3rd quarter worth about $206,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of AudioCodes in the third quarter valued at about $217,000. SIH Partners LLLP acquired a new stake in shares of AudioCodes in the third quarter valued at approximately $170,000. Millennium Management LLC increased its stake in shares of AudioCodes by 182.9% during the 3rd quarter. Millennium Management LLC now owns 141,319 shares of the communications equipment provider’s stock worth $1,345,000 after purchasing an additional 91,361 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in AudioCodes by 186.0% in the 3rd quarter. Bank of America Corp DE now owns 57,727 shares of the communications equipment provider’s stock valued at $550,000 after buying an additional 37,542 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.