AudioCodes (NASDAQ:AUDC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of AudioCodes Ltd. (NASDAQ:AUDC) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.91 and traded as high as $10.35. AudioCodes shares last traded at $10.17, with a volume of 79,364 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays boosted their price objective on AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC boosted their price objective on AudioCodes from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, February 5th.

AudioCodes Stock Performance

The stock has a 50-day moving average of $10.86 and a two-hundred day moving average of $9.90. The company has a market cap of $314.56 million, a P/E ratio of 20.82 and a beta of 0.86.

AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping 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 forecast that AudioCodes Ltd. will post 0.7 EPS for the current fiscal year.

AudioCodes Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a $0.18 dividend. The ex-dividend date was Thursday, February 20th. This represents a yield of 3%. AudioCodes’s payout ratio is currently 72.00%.

Institutional Trading of AudioCodes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Senvest Management LLC lifted its position in AudioCodes by 0.8% in the fourth quarter. Senvest Management LLC now owns 2,601,756 shares of the communications equipment provider’s stock valued at $25,341,000 after purchasing an additional 21,308 shares during the last quarter. Value Base Ltd. bought a new stake in AudioCodes in the fourth quarter valued at approximately $19,665,000. Arrowstreet Capital Limited Partnership increased its stake in shares of AudioCodes by 55.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,768 shares of the communications equipment provider’s stock valued at $5,187,000 after buying an additional 188,074 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AudioCodes by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 230,526 shares of the communications equipment provider’s stock valued at $2,245,000 after buying an additional 12,090 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of AudioCodes by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 190,338 shares of the communications equipment provider’s stock valued at $1,854,000 after buying an additional 30,611 shares during the period. Institutional investors own 68.05% of the company’s stock.

AudioCodes Company Profile

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.