AudioCodes (NASDAQ:AUDC) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

AudioCodes Ltd. (NASDAQ:AUDC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.91 and traded as high as $10.35. AudioCodes shares last traded at $10.17, with a volume of 79,364 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AUDC shares. Needham & Company LLC lifted their price objective on shares of AudioCodes from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, February 5th. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Barclays lifted their target price on shares of AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 5th.

AudioCodes Trading Down 0.3 %

The stock’s 50-day moving average price is $10.86 and its 200-day moving average price is $9.91. The company has a market cap of $307.31 million, a P/E ratio of 20.34 and a beta of 0.86.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 6.32% and a return on equity of 10.47%. On average, research analysts anticipate that AudioCodes Ltd. will post 0.7 earnings per share for the current fiscal year.

AudioCodes Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, February 20th. This represents a yield of 3%. AudioCodes’s dividend payout ratio (DPR) is currently 72.00%.

Institutional Trading of AudioCodes

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in AudioCodes by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider’s stock worth $509,000 after purchasing an additional 1,419 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of AudioCodes by 2.3% during the 4th quarter. Two Sigma Investments LP now owns 75,653 shares of the communications equipment provider’s stock worth $737,000 after buying an additional 1,674 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of AudioCodes by 151.8% in the 4th quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 2,185 shares during the last quarter. DGS Capital Management LLC boosted its stake in shares of AudioCodes by 72.8% in the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock worth $211,000 after buying an additional 9,133 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of AudioCodes by 11.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after acquiring an additional 9,150 shares in the last quarter. 68.05% of the stock is owned by hedge funds and other institutional investors.

AudioCodes Company Profile

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.