Macquarie Group Ltd. lowered its stake in shares of AudioCodes (NASDAQ:AUDC) by 43.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,975 shares of the communications equipment provider’s stock after selling 42,898 shares during the quarter. Macquarie Group Ltd. owned 0.20% of AudioCodes worth $419,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. ARK Investment Management LLC bought a new stake in AudioCodes during the fourth quarter worth $227,000. Ramsey Quantitative Systems bought a new stake in AudioCodes during the fourth quarter worth $268,000. Millennium Management LLC grew its holdings in AudioCodes by 197.0% during the fourth quarter. Millennium Management LLC now owns 139,814 shares of the communications equipment provider’s stock worth $1,029,000 after buying an additional 92,732 shares in the last quarter. Two Sigma Investments LP grew its holdings in AudioCodes by 133.8% during the fourth quarter. Two Sigma Investments LP now owns 141,505 shares of the communications equipment provider’s stock worth $1,041,000 after buying an additional 80,986 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in AudioCodes by 33.7% during the fourth quarter. Renaissance Technologies LLC now owns 301,700 shares of the communications equipment provider’s stock worth $2,221,000 after buying an additional 76,049 shares in the last quarter. Institutional investors and hedge funds own 26.25% of the company’s stock.
AUDC stock opened at $7.07 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.34 and a current ratio of 1.71. AudioCodes has a 1-year low of $5.83 and a 1-year high of $8.43. The firm has a market capitalization of $200.11, a price-to-earnings ratio of 22.81 and a beta of 0.37.
AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%. The business had revenue of $41.40 million for the quarter, compared to analysts’ expectations of $40.30 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. research analysts predict that AudioCodes will post 0.3 earnings per share for the current year.
Several research analysts have weighed in on AUDC shares. William Blair reissued an “outperform” rating on shares of AudioCodes in a research report on Wednesday, January 24th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective (up previously from $8.50) on shares of AudioCodes in a research report on Thursday, January 25th. Finally, Zacks Investment Research raised AudioCodes from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $8.08.
AudioCodes Ltd. designs, develops, and sells Voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIPs, and cloud virtualized data centers worldwide. It deploys its products through broadband, mobile, cable, and enterprise networks.
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