ARK Investment Management LLC acquired a new stake in AudioCodes Ltd. (NASDAQ:AUDC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 30,895 shares of the communications equipment provider’s stock, valued at approximately $227,000.
A number of other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in AudioCodes by 3.6% in the second quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock valued at $207,000 after purchasing an additional 1,200 shares during the period. Trexquant Investment LP purchased a new position in AudioCodes in the third quarter valued at about $123,000. Ramsey Quantitative Systems acquired a new stake in shares of AudioCodes during the fourth quarter valued at about $268,000. First Trust Advisors LP grew its stake in shares of AudioCodes by 112.6% during the third quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock valued at $752,000 after acquiring an additional 55,820 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of AudioCodes during the third quarter valued at about $713,000. 23.82% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on AUDC shares. William Blair restated an “outperform” rating on shares of AudioCodes in a research note on Wednesday, January 24th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price (up from $8.50) on shares of AudioCodes in a research note on Thursday, January 25th. Finally, Zacks Investment Research upgraded AudioCodes from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.17.
AudioCodes (NASDAQ:AUDC) last announced its earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $41.40 million during the quarter, compared to the consensus estimate of $40.30 million. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. sell-side analysts predict that AudioCodes Ltd. will post 0.3 EPS for the current fiscal year.
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AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
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