AudioCodes (NASDAQ:AUDC) Raised to “Strong-Buy” at StockNews.com

AudioCodes (NASDAQ:AUDC) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

A number of other brokerages have also commented on AUDC. Barclays reduced their target price on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC cut their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

AudioCodes Stock Performance

NASDAQ:AUDC opened at $9.20 on Monday. AudioCodes has a fifty-two week low of $7.70 and a fifty-two week high of $14.45. The firm has a market capitalization of $278.00 million, a PE ratio of 23.10 and a beta of 0.84. The stock’s fifty day moving average is $9.13 and its 200 day moving average is $9.87.

Institutional Investors Weigh In On AudioCodes

Large investors have recently bought and sold shares of the company. Taylor Frigon Capital Management LLC lifted its position in AudioCodes by 85.3% during the second quarter. Taylor Frigon Capital Management LLC now owns 441,878 shares of the communications equipment provider’s stock worth $4,587,000 after buying an additional 203,399 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of AudioCodes during the 3rd quarter worth $1,618,000. Y.D. More Investments Ltd purchased a new position in shares of AudioCodes during the 2nd quarter worth $1,123,000. Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes during the 3rd quarter valued at about $595,000. Finally, Senvest Management LLC grew its holdings in shares of AudioCodes by 1.5% in the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after purchasing an additional 37,080 shares during the period. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

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.