AudioCodes (NASDAQ:AUDC) Sees Large Volume Increase

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AudioCodes Ltd. (NASDAQ:AUDC) saw unusually-strong trading volume on Monday . Approximately 19,151 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 264,192 shares.The stock last traded at $24.04 and had previously closed at $23.42.

Several equities research analysts have recently weighed in on AUDC shares. ValuEngine upgraded AudioCodes from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. BidaskClub raised AudioCodes from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC increased their target price on AudioCodes to $20.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd.

The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $641.86 million, a P/E ratio of 30.14 and a beta of 0.55. The firm has a 50-day simple moving average of $19.58 and a 200-day simple moving average of $17.39.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, October 29th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The business had revenue of $51.41 million for the quarter. AudioCodes had a return on equity of 23.08% and a net margin of 8.66%.

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in AudioCodes during the 2nd quarter worth about $2,548,000. Bogle Investment Management L P DE lifted its position in AudioCodes by 116.5% during the 2nd quarter. Bogle Investment Management L P DE now owns 130,778 shares of the communications equipment provider’s stock worth $2,024,000 after acquiring an additional 70,373 shares during the period. Altshuler Shaham Ltd lifted its position in AudioCodes by 22.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 285,252 shares of the communications equipment provider’s stock worth $4,463,000 after acquiring an additional 51,551 shares during the period. Systematic Financial Management LP lifted its position in AudioCodes by 228.4% during the 2nd quarter. Systematic Financial Management LP now owns 60,930 shares of the communications equipment provider’s stock worth $943,000 after acquiring an additional 42,375 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new stake in AudioCodes during the 2nd quarter worth about $635,000. 30.18% of the stock is owned by hedge funds and other institutional investors.

About AudioCodes (NASDAQ:AUDC)

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, 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, customer premises or the branch; 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.

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