AudioCodes Ltd. (NASDAQ:AUDC) was the target of unusually large options trading on Thursday. Traders purchased 3,536 call options on the company. This represents an increase of 390% compared to the average daily volume of 721 call options.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of AudioCodes by 3.6% in the fourth quarter. Acadian Asset Management LLC now owns 1,207,239 shares of the communications equipment provider’s stock valued at $31,011,000 after buying an additional 41,713 shares during the last quarter. Norges Bank acquired a new stake in shares of AudioCodes in the fourth quarter valued at approximately $27,142,000. Phoenix Holdings Ltd. lifted its position in shares of AudioCodes by 17.5% in the fourth quarter. Phoenix Holdings Ltd. now owns 394,513 shares of the communications equipment provider’s stock valued at $10,066,000 after buying an additional 58,627 shares during the last quarter. Navellier & Associates Inc lifted its holdings in AudioCodes by 8.1% during the 4th quarter. Navellier & Associates Inc now owns 182,566 shares of the communications equipment provider’s stock worth $4,690,000 after purchasing an additional 13,731 shares during the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in AudioCodes by 13.6% during the 4th quarter. Altshuler Shaham Ltd now owns 147,422 shares of the communications equipment provider’s stock worth $3,791,000 after purchasing an additional 17,696 shares during the last quarter. 35.20% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ AUDC opened at $22.11 on Friday. The stock has a 50 day moving average price of $21.75 and a 200 day moving average price of $22.27. AudioCodes has a 52 week low of $9.00 and a 52 week high of $28.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.53. The stock has a market capitalization of $646.40 million, a PE ratio of 184.27 and a beta of 0.64.
AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings results on Tuesday, January 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. AudioCodes had a return on equity of 24.11% and a net margin of 1.99%. The firm had revenue of $52.80 million during the quarter.
The business also recently declared a semi-annual dividend, which was paid on Wednesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Friday, February 14th. This represents a yield of 1%.
AUDC has been the subject of several recent research reports. TheStreet cut AudioCodes from an “a-” rating to a “c+” rating in a research report on Tuesday, January 28th. Sidoti reduced their price target on AudioCodes from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. ValuEngine raised AudioCodes from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, BidaskClub raised AudioCodes from a “hold” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. AudioCodes currently has an average rating of “Buy” and an average price target of $24.00.
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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