Zacks Investment Research Lowers AudioCodes (AUDC) to Hold

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

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC upped their target price on AudioCodes from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, October 26th. William Blair restated a “buy” rating on shares of AudioCodes in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $8.17.

AudioCodes (AUDC) traded down $0.06 during midday trading on Thursday, reaching $7.25. The company’s stock had a trading volume of 77,649 shares, compared to its average volume of 91,739. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.07. AudioCodes has a 12-month low of $5.83 and a 12-month high of $8.43. The company has a market capitalization of $207.55, a PE ratio of 60.42 and a beta of 0.23.

AudioCodes (NASDAQ:AUDC) last released its earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%. The firm had revenue of $41.40 million during the quarter, compared to analysts’ expectations of $40.30 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts expect that AudioCodes will post 0.3 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP bought a new stake in AudioCodes during the third quarter worth $123,000. Royal Bank of Canada increased its holdings in shares of AudioCodes by 3.6% during the second quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock worth $207,000 after buying an additional 1,200 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of AudioCodes during the third quarter worth $713,000. First Trust Advisors LP increased its holdings in shares of AudioCodes by 112.6% during the third quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock worth $752,000 after buying an additional 55,820 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of AudioCodes by 34.9% during the fourth quarter. Acadian Asset Management LLC now owns 859,182 shares of the communications equipment provider’s stock worth $6,325,000 after buying an additional 222,430 shares in the last quarter. Hedge funds and other institutional investors own 22.77% of the company’s stock.

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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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