Taylor Frigon Capital Management LLC reduced its position in AudioCodes Ltd. (NASDAQ:AUDC – Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 395,911 shares of the communications equipment provider’s stock after selling 45,967 shares during the period. AudioCodes comprises approximately 1.9% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 7th largest position. Taylor Frigon Capital Management LLC owned approximately 1.31% of AudioCodes worth $3,851,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AUDC. Vanguard Group Inc. lifted its stake in AudioCodes by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 852,899 shares of the communications equipment provider’s stock worth $11,122,000 after acquiring an additional 23,104 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in shares of AudioCodes by 1.6% during the first quarter. Heartland Advisors Inc. now owns 838,400 shares of the communications equipment provider’s stock worth $10,933,000 after purchasing an additional 13,000 shares during the period. ARK Investment Management LLC grew its position in AudioCodes by 9.5% during the second quarter. ARK Investment Management LLC now owns 202,182 shares of the communications equipment provider’s stock valued at $2,099,000 after purchasing an additional 17,589 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in AudioCodes by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 174,521 shares of the communications equipment provider’s stock valued at $2,276,000 after buying an additional 2,702 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in AudioCodes in the 2nd quarter worth approximately $1,123,000. 68.05% of the stock is owned by hedge funds and other institutional investors.
AudioCodes Price Performance
AUDC traded down $0.04 during midday trading on Thursday, hitting $9.13. 7,179 shares of the company’s stock traded hands, compared to its average volume of 75,405. The company has a market cap of $276.86 million, a PE ratio of 25.47 and a beta of 0.86. The stock’s fifty day simple moving average is $9.86 and its 200-day simple moving average is $10.30. AudioCodes Ltd. has a one year low of $7.14 and a one year high of $14.45.
AudioCodes Announces Dividend
The business also recently declared a Semi-Annual dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 3.3%. AudioCodes’s dividend payout ratio is currently 100.00%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on AUDC shares. Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of AudioCodes in a report on Wednesday, July 31st. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 11th.
Check Out Our Latest Research Report on AudioCodes
About AudioCodes
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.
Further Reading
- Five stocks we like better than AudioCodes
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Which Wall Street Analysts are the Most Accurate?
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for AudioCodes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AudioCodes and related companies with MarketBeat.com's FREE daily email newsletter.