AudioCodes (NASDAQ:AUDC) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of AudioCodes (NASDAQ:AUDC) in a research note released on Wednesday morning, Benzinga reports. They currently have a $14.00 price objective on the communications equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of AudioCodes from $12.00 to $10.00 and set an underweight rating on the stock in a research report on Wednesday, May 8th. StockNews.com raised shares of AudioCodes from a buy rating to a strong-buy rating in a research report on Tuesday, April 30th.

AudioCodes Price Performance

Shares of NASDAQ AUDC opened at $10.79 on Wednesday. The company has a market cap of $327.15 million, a PE ratio of 29.97 and a beta of 0.88. AudioCodes has a 12 month low of $7.14 and a 12 month high of $14.45. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $11.50.

AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, May 7th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $60.08 million during the quarter, compared to the consensus estimate of $62.66 million. AudioCodes had a net margin of 5.61% and a return on equity of 10.42%. On average, analysts anticipate that AudioCodes will post 0.66 EPS for the current year.

AudioCodes Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 15th. This represents a dividend yield of 3.3%. AudioCodes’s dividend payout ratio (DPR) is presently 100.00%.

Institutional Trading of AudioCodes

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in AudioCodes by 15.3% during the first quarter. BNP Paribas Financial Markets now owns 94,563 shares of the communications equipment provider’s stock valued at $1,233,000 after purchasing an additional 12,541 shares during the last quarter. Boston Partners bought a new stake in AudioCodes during the fourth quarter valued at $787,000. Eagle Global Advisors LLC bought a new position in shares of AudioCodes during the fourth quarter worth about $338,000. Assenagon Asset Management S.A. bought a new position in shares of AudioCodes during the first quarter worth about $1,660,000. Finally, Taylor Frigon Capital Management LLC grew its position in shares of AudioCodes by 13.5% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 240,572 shares of the communications equipment provider’s stock worth $2,904,000 after acquiring an additional 28,602 shares during the last quarter. 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.