AudioCodes (NASDAQ:AUDC) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of AudioCodes Ltd. (NASDAQ:AUDC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.90 and traded as high as $11.65. AudioCodes shares last traded at $11.33, with a volume of 84,785 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AUDC shares. Needham & Company LLC raised their target price on shares of AudioCodes from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, February 5th. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Barclays boosted their target price on AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, February 5th.

AudioCodes Trading Down 0.6 %

The company has a market cap of $342.36 million, a price-to-earnings ratio of 22.66 and a beta of 0.80. The business’s 50 day moving average price is $10.56 and its 200-day moving average price is $9.90.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 6.32% and a return on equity of 10.47%. Equities research analysts forecast that AudioCodes Ltd. will post 0.7 EPS for the current fiscal year.

AudioCodes Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be paid a $0.18 dividend. The ex-dividend date is Thursday, February 20th. This represents a yield of 3%. AudioCodes’s dividend payout ratio (DPR) is presently 72.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in AudioCodes by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider’s stock worth $509,000 after buying an additional 1,419 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of AudioCodes by 2.3% in the 4th quarter. Two Sigma Investments LP now owns 75,653 shares of the communications equipment provider’s stock valued at $737,000 after purchasing an additional 1,674 shares during the last quarter. Blue Trust Inc. raised its position in shares of AudioCodes by 151.8% in the 4th quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 2,185 shares in the last quarter. DGS Capital Management LLC boosted its holdings in shares of AudioCodes by 72.8% during the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock worth $211,000 after buying an additional 9,133 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of AudioCodes by 11.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after purchasing an additional 9,150 shares during the period. Institutional investors 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.