AudioCodes’ (AUDC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AudioCodes (NASDAQ:AUDC) in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $12.50 price target on the communications equipment provider’s stock.

A number of other research firms have also weighed in on AUDC. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 26th. Barclays upped their price target on shares of AudioCodes from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, February 5th.

AudioCodes Price Performance

AUDC stock opened at $8.63 on Wednesday. The firm has a market cap of $256.14 million, a PE ratio of 17.26 and a beta of 0.94. AudioCodes has a 12 month low of $7.70 and a 12 month high of $12.72. The firm has a 50 day simple moving average of $9.41 and a 200 day simple moving average of $9.77.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. AudioCodes had a return on equity of 10.47% and a net margin of 6.32%. As a group, sell-side analysts expect that AudioCodes will post 0.7 earnings per share for the current year.

Institutional Trading of AudioCodes

Several large investors have recently made changes to their positions in AUDC. JPMorgan Chase & Co. boosted its position in AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after purchasing an additional 50,704 shares during the period. Blue Trust Inc. lifted its stake in shares of AudioCodes by 151.8% in the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 2,185 shares during the last quarter. R Squared Ltd bought a new stake in shares of AudioCodes during the 4th quarter worth $97,000. Bank of New York Mellon Corp grew its stake in AudioCodes by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider’s stock valued at $509,000 after buying an additional 1,419 shares during the last quarter. Finally, Value Base Ltd. bought a new position in AudioCodes in the 4th quarter worth $19,665,000. Institutional investors own 68.05% of the company’s stock.

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.