Ajo LP lowered its stake in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 50.3% in the first quarter, Holdings Channel reports. The fund owned 21,557 shares of the communications equipment provider’s stock after selling 21,855 shares during the quarter. Ajo LP’s holdings in AudioCodes were worth $298,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of AudioCodes by 29.5% in the 1st quarter. BlackRock Inc. now owns 7,850 shares of the communications equipment provider’s stock valued at $109,000 after acquiring an additional 1,789 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of AudioCodes by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 187,785 shares of the communications equipment provider’s stock valued at $2,599,000 after acquiring an additional 32,782 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in shares of AudioCodes by 50.0% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 15,000 shares of the communications equipment provider’s stock valued at $208,000 after acquiring an additional 5,000 shares in the last quarter. Cavalier Investments LLC raised its stake in shares of AudioCodes by 156.0% in the 1st quarter. Cavalier Investments LLC now owns 83,699 shares of the communications equipment provider’s stock valued at $1,158,000 after acquiring an additional 50,999 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC raised its stake in shares of AudioCodes by 786.3% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 105,021 shares of the communications equipment provider’s stock valued at $1,453,000 after acquiring an additional 93,171 shares in the last quarter. 31.12% of the stock is owned by institutional investors.
Shares of AUDC stock opened at $15.17 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. AudioCodes Ltd. has a twelve month low of $7.16 and a twelve month high of $17.44. The company has a market capitalization of $445.19 million, a P/E ratio of 24.57 and a beta of 0.62.
AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. AudioCodes had a return on equity of 19.48% and a net margin of 7.82%. The business had revenue of $46.58 million for the quarter.
Separately, BidaskClub downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. AudioCodes currently has an average rating of “Buy” and an average price target of $9.00.
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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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