Y.D. More Investments Ltd Trims Stake in AudioCodes Ltd. (NASDAQ:AUDC)

Y.D. More Investments Ltd decreased its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 85.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,545 shares of the communications equipment provider’s stock after selling 127,569 shares during the quarter. Y.D. More Investments Ltd owned 0.07% of AudioCodes worth $213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in shares of AudioCodes during the third quarter worth $1,618,000. JPMorgan Chase & Co. lifted its holdings in AudioCodes by 95.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock valued at $1,012,000 after buying an additional 50,704 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes in the 3rd quarter valued at about $595,000. Marshall Wace LLP grew its stake in AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock worth $267,000 after acquiring an additional 7,009 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of AudioCodes by 11.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after acquiring an additional 9,150 shares during the period. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

AudioCodes Stock Performance

AUDC stock opened at $11.36 on Thursday. AudioCodes Ltd. has a one year low of $7.70 and a one year high of $14.45. The firm has a market cap of $343.27 million, a price-to-earnings ratio of 28.40 and a beta of 0.80. The firm has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $9.80.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 4.99% and a return on equity of 8.85%. As a group, equities analysts predict that AudioCodes Ltd. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AUDC has been the topic of several research analyst reports. Barclays increased their price objective on AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday. Needham & Company LLC upped their price target on shares of AudioCodes from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com raised shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

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.