Millennium Management LLC boosted its position in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 20.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,055 shares of the communications equipment provider’s stock after purchasing an additional 12,890 shares during the period. Millennium Management LLC owned 0.26% of AudioCodes worth $591,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AUDC. UBS Group AG grew its position in AudioCodes by 154.1% during the 1st quarter. UBS Group AG now owns 20,751 shares of the communications equipment provider’s stock worth $148,000 after purchasing an additional 12,585 shares in the last quarter. Acadian Asset Management LLC purchased a new position in AudioCodes during the 2nd quarter worth approximately $7,793,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in AudioCodes during the 2nd quarter worth approximately $113,000. Renaissance Technologies LLC grew its position in AudioCodes by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock worth $1,646,000 after purchasing an additional 4,567 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in AudioCodes by 21.1% during the 2nd quarter. Macquarie Group Ltd. now owns 127,064 shares of the communications equipment provider’s stock worth $989,000 after purchasing an additional 22,139 shares in the last quarter. Hedge funds and other institutional investors own 24.48% of the company’s stock.
NASDAQ AUDC opened at $11.86 on Friday. AudioCodes Ltd. has a twelve month low of $6.51 and a twelve month high of $12.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.58 and a current ratio of 1.97. The company has a market cap of $355.02 million, a price-to-earnings ratio of 38.26 and a beta of 0.36.
AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Tuesday, October 23rd. The communications equipment provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. AudioCodes had a net margin of 5.61% and a return on equity of 15.90%. The business had revenue of $44.52 million for the quarter.
Several equities analysts have weighed in on AUDC shares. BidaskClub cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded shares of AudioCodes from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, July 26th. ValuEngine upgraded shares of AudioCodes from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Finally, Needham & Company LLC lifted their price objective on shares of AudioCodes from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Five investment analysts have rated the stock with a buy rating, AudioCodes presently has a consensus rating of “Buy” and a consensus target price of $10.00.
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AudioCodes Company Profile
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments; MobilityPLUS, a mobile VoIP solution; VocaNOM call routing products; SmartTAP call recording products; Auto Attendant, a tool for managing inbound calls and delivery services; Fax Server, a tool for managing inbound and outbound enterprise fax transmissions; SIP Phone Support, a value-added application for SBC and gateways; signal processor chips; communications boards; and voice and data logging hardware integration board products.
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