William Blair restated their buy rating on shares of AudioCodes Ltd. (NASDAQ:AUDC) in a research report sent to investors on Wednesday. William Blair also issued estimates for AudioCodes’ Q2 2018 earnings at $0.06 EPS, Q3 2018 earnings at $0.07 EPS and Q4 2018 earnings at $0.09 EPS.

AUDC has been the topic of several other research reports. Zacks Investment Research raised AudioCodes from a hold rating to a buy rating and set a $7.50 price objective on the stock in a report on Friday, September 15th. TheStreet downgraded AudioCodes from a b- rating to a c+ rating in a report on Wednesday, June 28th. Finally, Northland Securities set a $7.00 price objective on AudioCodes and gave the company a hold rating in a report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $7.67.

AudioCodes (AUDC) traded down 2.93% during midday trading on Wednesday, hitting $7.62. The stock had a trading volume of 232,908 shares. AudioCodes has a 52 week low of $5.16 and a 52 week high of $8.43. The company’s 50-day moving average price is $7.35 and its 200 day moving average price is $6.75. The company has a market capitalization of $240.76 million, a PE ratio of 14.16 and a beta of 0.37.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. AudioCodes had a return on equity of 8.20% and a net margin of 11.84%. The company had revenue of $39.20 million for the quarter, compared to the consensus estimate of $39.20 million. During the same quarter last year, the business posted $0.08 EPS. AudioCodes’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that AudioCodes will post $0.36 EPS for the current year.

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A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in AudioCodes by 3.6% during the 2nd quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock worth $207,000 after purchasing an additional 1,200 shares during the last quarter. Menta Capital LLC raised its position in AudioCodes by 5.4% during the 2nd quarter. Menta Capital LLC now owns 57,048 shares of the communications equipment provider’s stock worth $342,000 after purchasing an additional 2,900 shares during the last quarter. ClariVest Asset Management LLC raised its position in AudioCodes by 8.5% during the 2nd quarter. ClariVest Asset Management LLC now owns 93,510 shares of the communications equipment provider’s stock worth $561,000 after purchasing an additional 7,300 shares during the last quarter. First Trust Advisors LP raised its position in AudioCodes by 21.0% during the 2nd quarter. First Trust Advisors LP now owns 49,565 shares of the communications equipment provider’s stock worth $297,000 after purchasing an additional 8,602 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in AudioCodes by 10.6% during the 2nd quarter. State of Tennessee Treasury Department now owns 128,426 shares of the communications equipment provider’s stock worth $769,000 after purchasing an additional 12,324 shares during the last quarter. 21.82% of the stock is owned by institutional investors and hedge funds.

About AudioCodes

AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.

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