AudioCodes Ltd. (NASDAQ:AUDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “AUDIOCODES LTD designs, develops and markets enabling technologies and communication components for the transmission of voice, fax and modem over packet networks. Newly developed Voice over IP gateways as well as DSL and ATM access devices, enable packet networks to carry voice and data more efficiently and at lower cost than traditional telephone networks. They are a provider of voice over packet communication components that empower the development of equipment for these emerging markets. “

A number of other analysts have also weighed in on AUDC. TheStreet lowered AudioCodes from a “b-” rating to a “c+” rating in a research note on Wednesday, June 28th. Northland Securities set a $7.00 target price on AudioCodes and gave the company a “hold” rating in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.50.

AudioCodes (NASDAQ:AUDC) traded down 1.88% during midday trading on Thursday, reaching $6.77. 76,589 shares of the company traded hands. The company has a market cap of $213.90 million, a price-to-earnings ratio of 12.58 and a beta of 0.61. AudioCodes has a 12-month low of $5.07 and a 12-month high of $7.26. The company has a 50-day moving average price of $6.76 and a 200-day moving average price of $6.61.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. AudioCodes had a return on equity of 7.78% and a net margin of 11.95%. The company had revenue of $38.70 million during the quarter, compared to analyst estimates of $38.23 million. During the same period last year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that AudioCodes will post $0.35 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of AUDC. Morgan Stanley boosted its holdings in AudioCodes by 13.6% in the first quarter. Morgan Stanley now owns 1,505,906 shares of the communications equipment provider’s stock valued at $10,556,000 after acquiring an additional 180,860 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in AudioCodes by 8.9% in the second quarter. Acadian Asset Management LLC now owns 694,228 shares of the communications equipment provider’s stock valued at $4,157,000 after acquiring an additional 56,674 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in AudioCodes by 34.0% in the first quarter. State of Tennessee Treasury Department now owns 116,102 shares of the communications equipment provider’s stock valued at $814,000 after acquiring an additional 29,482 shares during the last quarter. Russell Investments Group Ltd. bought a new position in AudioCodes in the first quarter valued at about $202,000. Finally, First Trust Advisors LP boosted its holdings in AudioCodes by 113.8% in the first quarter. First Trust Advisors LP now owns 40,963 shares of the communications equipment provider’s stock valued at $287,000 after acquiring an additional 21,807 shares during the last quarter. Institutional investors and hedge funds own 22.05% of the company’s stock.

About AudioCodes

AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.

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