AudioCodes Ltd. (NASDAQ:AUDC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 11.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 53,105 shares of the communications equipment provider’s stock after acquiring an additional 5,389 shares during the period. Bank of New York Mellon Corp’s holdings in AudioCodes were worth $551,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in AudioCodes by 15.3% in the first quarter. BNP Paribas Financial Markets now owns 94,563 shares of the communications equipment provider’s stock valued at $1,233,000 after buying an additional 12,541 shares during the period. Trexquant Investment LP raised its stake in shares of AudioCodes by 21.0% in the 4th quarter. Trexquant Investment LP now owns 73,827 shares of the communications equipment provider’s stock valued at $891,000 after acquiring an additional 12,835 shares during the period. Quadrature Capital Ltd purchased a new position in shares of AudioCodes in the 4th quarter valued at $166,000. Vanguard Group Inc. lifted its holdings in shares of AudioCodes by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 852,899 shares of the communications equipment provider’s stock valued at $11,122,000 after acquiring an additional 23,104 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in AudioCodes during the 1st quarter worth $340,000. 68.05% of the stock is owned by institutional investors and hedge funds.

AudioCodes Trading Down 1.6 %

Shares of AUDC stock opened at $8.75 on Tuesday. The firm has a fifty day simple moving average of $10.40 and a 200-day simple moving average of $10.82. The company has a market capitalization of $265.34 million, a PE ratio of 24.31 and a beta of 0.87. AudioCodes Ltd. has a twelve month low of $7.14 and a twelve month high of $14.45.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. AudioCodes had a net margin of 5.61% and a return on equity of 10.42%. The company had revenue of $60.30 million during the quarter, compared to analysts’ expectations of $59.93 million. Equities research analysts predict that AudioCodes Ltd. will post 0.67 EPS for the current year.

AudioCodes Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, August 15th. This represents a yield of 3.3%. AudioCodes’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

AUDC has been the topic of several research reports. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of AudioCodes in a report on Wednesday, July 31st.

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.