AudioCodes (NASDAQ:AUDC) Price Target Raised to $12.00

AudioCodes (NASDAQ:AUDCFree Report) had its price target hoisted by Barclays from $10.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an underweight rating on the communications equipment provider’s stock.

Several other equities analysts have also issued reports on the company. StockNews.com upgraded AudioCodes from a hold rating to a buy rating in a research report on Saturday, January 20th. Needham & Company LLC lifted their target price on shares of AudioCodes from $16.00 to $18.00 and gave the stock a buy rating in a research note on Tuesday.

Check Out Our Latest Research Report on AUDC

AudioCodes Trading Up 0.7 %

Shares of NASDAQ:AUDC opened at $13.77 on Wednesday. The stock has a market capitalization of $436.37 million, a P/E ratio of 49.18, a price-to-earnings-growth ratio of 0.82 and a beta of 0.75. The stock’s 50-day moving average price is $11.98 and its 200-day moving average price is $10.73. AudioCodes has a 12-month low of $7.14 and a 12-month high of $18.15.

AudioCodes Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a dividend yield of 2.6%. AudioCodes’s dividend payout ratio is 128.57%.

Institutional Trading of AudioCodes

Large investors have recently bought and sold shares of the company. Senvest Management LLC lifted its stake in shares of AudioCodes by 159.5% in the 3rd quarter. Senvest Management LLC now owns 2,546,011 shares of the communications equipment provider’s stock valued at $25,740,000 after purchasing an additional 1,565,039 shares during the period. Heartland Advisors Inc. lifted its position in AudioCodes by 236.0% during the third quarter. Heartland Advisors Inc. now owns 780,500 shares of the communications equipment provider’s stock valued at $7,891,000 after buying an additional 548,200 shares during the period. Walleye Capital LLC boosted its holdings in shares of AudioCodes by 865.3% during the 2nd quarter. Walleye Capital LLC now owns 566,911 shares of the communications equipment provider’s stock valued at $5,176,000 after buying an additional 508,180 shares in the last quarter. Millennium Management LLC grew its position in shares of AudioCodes by 460.9% in the 4th quarter. Millennium Management LLC now owns 447,529 shares of the communications equipment provider’s stock worth $8,006,000 after buying an additional 367,742 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of AudioCodes in the 1st quarter worth about $6,208,000. 51.68% of the stock is owned by institutional investors.

AudioCodes Company Profile

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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, hosted business services, 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.

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