AudioCodes (NASDAQ:AUDC) Cut to Hold at BidaskClub

BidaskClub lowered shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Several other research analysts have also recently commented on AUDC. ValuEngine cut AudioCodes from a buy rating to a hold rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their price target on AudioCodes to $20.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd.

AudioCodes stock opened at $16.91 on Friday. The firm has a 50-day moving average of $17.92 and a 200-day moving average of $15.68. AudioCodes has a one year low of $9.00 and a one year high of $19.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.73 and a quick ratio of 1.32. The company has a market cap of $509.40 million, a price-to-earnings ratio of 25.68 and a beta of 0.58.



AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, July 23rd. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $49.50 million for the quarter. AudioCodes had a return on equity of 21.61% and a net margin of 8.86%.

The company also recently announced an annual dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.12 dividend. The ex-dividend date was Friday, August 16th. This is a boost from AudioCodes’s previous annual dividend of $0.11. This represents a dividend yield of 0.64%.

Institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association grew its position in shares of AudioCodes by 14.1% in the 2nd quarter. United Services Automobile Association now owns 108,596 shares of the communications equipment provider’s stock valued at $1,681,000 after acquiring an additional 13,434 shares during the period. Victory Capital Management Inc. acquired a new position in shares of AudioCodes during the 2nd quarter worth about $2,548,000. Vanguard Group Inc. increased its stake in shares of AudioCodes by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock worth $7,468,000 after purchasing an additional 2,762 shares during the last quarter. BlackRock Inc. raised its holdings in shares of AudioCodes by 23.1% in the 2nd quarter. BlackRock Inc. now owns 9,660 shares of the communications equipment provider’s stock valued at $150,000 after purchasing an additional 1,810 shares during the period. Finally, Qtron Investments LLC raised its holdings in shares of AudioCodes by 9.9% in the 2nd quarter. Qtron Investments LLC now owns 22,586 shares of the communications equipment provider’s stock valued at $350,000 after purchasing an additional 2,028 shares during the period. Institutional investors and hedge funds own 30.64% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.

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