StockNews.com upgraded shares of AudioCodes (NASDAQ:AUDC – Free Report) from a buy rating to a strong-buy rating in a research report released on Monday morning.
Several other research firms have also weighed in on AUDC. Needham & Company LLC restated a buy rating and set a $14.00 target price on shares of AudioCodes in a report on Wednesday, July 31st. Barclays cut their price objective on shares of AudioCodes from $12.00 to $10.00 and set an underweight rating on the stock in a report on Wednesday, May 8th.
Check Out Our Latest Stock Report on AudioCodes
AudioCodes Trading Down 1.0 %
AudioCodes (NASDAQ:AUDC – Get Free Report) last posted its earnings results on Tuesday, July 30th. The communications equipment provider reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $60.30 million for the quarter, compared to analyst estimates of $59.93 million. AudioCodes had a net margin of 5.61% and a return on equity of 10.42%. On average, analysts predict that AudioCodes will post 0.67 earnings per share for the current year.
AudioCodes Dividend Announcement
The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 3.3%. AudioCodes’s dividend payout ratio is currently 100.00%.
Institutional Investors Weigh In On AudioCodes
A number of institutional investors have recently modified their holdings of AUDC. XTX Topco Ltd acquired a new stake in shares of AudioCodes in the 2nd quarter valued at about $143,000. Hillsdale Investment Management Inc. acquired a new stake in shares of AudioCodes in the 1st quarter valued at about $159,000. Quadrature Capital Ltd acquired a new stake in shares of AudioCodes in the 4th quarter valued at about $166,000. New York State Common Retirement Fund raised its stake in shares of AudioCodes by 163.8% in the 4th quarter. New York State Common Retirement Fund now owns 15,828 shares of the communications equipment provider’s stock valued at $191,000 after purchasing an additional 9,827 shares in the last quarter. Finally, Marshall Wace LLP raised its stake 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 valued at $267,000 after purchasing an additional 7,009 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.
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.
Read More
- Five stocks we like better than AudioCodes
- Profitably Trade Stocks at 52-Week Highs
- Emerging Markets: What They Are and Why They Matter
- How is Compound Interest Calculated?
- Recession or Not, These 3 Stocks Are Winners
- Investing In Preferred Stock vs. Common Stock
- Why NVIDIA Is More of a Screaming Buy Than Ever
Receive News & Ratings for AudioCodes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AudioCodes and related companies with MarketBeat.com's FREE daily email newsletter.