AudioCodes (NASDAQ:AUDC) Shares Cross Above Two Hundred Day Moving Average – What’s Next?
by Renee Jackson · The Cerbat GemAudioCodes Ltd. (NASDAQ:AUDC – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.68 and traded as high as $9.08. AudioCodes shares last traded at $9.07, with a volume of 58,165 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Wall Street Zen lowered AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AudioCodes in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.50.
Read Our Latest Analysis on AudioCodes
AudioCodes Stock Performance
The business’s 50-day moving average price is $7.99 and its 200 day moving average price is $8.68. The company has a market cap of $245.44 million, a P/E ratio of 29.23 and a beta of 0.97.
AudioCodes (NASDAQ:AUDC – Get Free Report) last issued its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. AudioCodes had a net margin of 3.65% and a return on equity of 6.46%. The company had revenue of $62.61 million for the quarter, compared to analysts’ expectations of $62.00 million. Equities research analysts forecast that AudioCodes Ltd. will post 0.7 earnings per share for the current year.
AudioCodes Announces Dividend
The firm also recently disclosed a dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were paid a $0.20 dividend. The ex-dividend date was Friday, February 20th. This represents a yield of 552.0%. AudioCodes’s dividend payout ratio is currently 129.03%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Heartland Advisors Inc. increased its holdings in shares of AudioCodes by 15.5% during the 3rd quarter. Heartland Advisors Inc. now owns 1,028,850 shares of the communications equipment provider’s stock worth $9,795,000 after acquiring an additional 138,300 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AudioCodes by 9.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 620,844 shares of the communications equipment provider’s stock worth $5,936,000 after purchasing an additional 53,266 shares during the period. Goldman Sachs Group Inc. boosted its position in AudioCodes by 16.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 313,151 shares of the communications equipment provider’s stock worth $2,734,000 after purchasing an additional 44,073 shares during the period. Millennium Management LLC increased its holdings in shares of AudioCodes by 101.6% in the fourth quarter. Millennium Management LLC now owns 284,951 shares of the communications equipment provider’s stock valued at $2,488,000 after purchasing an additional 143,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of AudioCodes by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 262,824 shares of the communications equipment provider’s stock valued at $2,295,000 after purchasing an additional 10,056 shares during the period. 68.05% of the stock is currently owned by institutional investors.
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.