AudioCodes Ltd. (NASDAQ:AUDC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

AudioCodes Ltd. (NASDAQ:AUDCGet Rating) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.00.

Several brokerages have recently commented on AUDC. Jefferies Financial Group decreased their price target on AudioCodes from $24.00 to $22.00 in a research note on Tuesday, August 2nd. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 30th.

Institutional Investors Weigh In On AudioCodes

Several institutional investors and hedge funds have recently modified their holdings of AUDC. Harel Insurance Investments & Financial Services Ltd. increased its holdings in AudioCodes by 329.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,048,080 shares of the communications equipment provider’s stock worth $5,125,000 after purchasing an additional 803,772 shares during the period. William Blair Investment Management LLC increased its holdings in AudioCodes by 85.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,195,075 shares of the communications equipment provider’s stock worth $26,339,000 after purchasing an additional 550,973 shares during the period. Lord Abbett & CO. LLC purchased a new stake in AudioCodes during the 1st quarter worth about $6,208,000. Lapides Asset Management LLC purchased a new stake in AudioCodes during the 1st quarter worth about $3,901,000. Finally, JPMorgan Chase & Co. increased its holdings in AudioCodes by 77.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 247,829 shares of the communications equipment provider’s stock worth $5,463,000 after purchasing an additional 108,098 shares during the period. Hedge funds and other institutional investors own 46.72% of the company’s stock.

AudioCodes Stock Up 0.1 %

Shares of AudioCodes stock opened at $22.07 on Friday. AudioCodes has a 52 week low of $19.62 and a 52 week high of $37.35. The business’s fifty day simple moving average is $22.64 and its 200-day simple moving average is $23.40. The firm has a market cap of $698.29 million, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.57 and a beta of 0.67.

AudioCodes (NASDAQ:AUDCGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The communications equipment provider reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. AudioCodes had a return on equity of 17.51% and a net margin of 11.76%. During the same period last year, the firm posted $0.29 EPS. As a group, equities analysts expect that AudioCodes will post 0.95 earnings per share for the current year.

AudioCodes Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were issued a $0.18 dividend. The ex-dividend date was Tuesday, August 16th. This represents a dividend yield of 1.7%. AudioCodes’s dividend payout ratio is presently 38.71%.

About AudioCodes

(Get Rating)

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace. The company offers solutions, products, and services for unified communications, contact centers, VoiceAI business line, and service provider business. 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.

Further Reading

Analyst Recommendations for AudioCodes (NASDAQ:AUDC)

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