First Trust Advisors LP raised its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 112.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,385 shares of the communications equipment provider’s stock after acquiring an additional 55,820 shares during the quarter. First Trust Advisors LP owned about 0.33% of AudioCodes worth $752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. ClariVest Asset Management LLC lifted its stake in shares of AudioCodes by 8.5% in the second quarter. ClariVest Asset Management LLC now owns 93,510 shares of the communications equipment provider’s stock worth $561,000 after buying an additional 7,300 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in shares of AudioCodes by 10.6% in the second quarter. State of Tennessee Treasury Department now owns 128,426 shares of the communications equipment provider’s stock worth $769,000 after buying an additional 12,324 shares during the last quarter. Menta Capital LLC lifted its stake in shares of AudioCodes by 5.4% in the second quarter. Menta Capital LLC now owns 57,048 shares of the communications equipment provider’s stock worth $342,000 after buying an additional 2,900 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of AudioCodes by 3.6% in the second quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock worth $207,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 22.09% of the company’s stock.

A number of analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of AudioCodes from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, October 26th. William Blair restated a “buy” rating on shares of AudioCodes in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of AudioCodes from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Finally, TheStreet upgraded shares of AudioCodes from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $7.67.

AudioCodes Ltd. (NASDAQ AUDC) opened at $6.98 on Thursday. AudioCodes Ltd. has a 52-week low of $5.83 and a 52-week high of $8.43. The stock has a market cap of $227.89, a price-to-earnings ratio of 25.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.69.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. AudioCodes had a net margin of 11.84% and a return on equity of 8.33%. The business had revenue of $39.20 million for the quarter, compared to analyst estimates of $39.20 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. AudioCodes’s revenue was up 5.4% compared to the same quarter last year. analysts expect that AudioCodes Ltd. will post 0.28 EPS for the current fiscal year.

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AudioCodes Company Profile

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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Institutional Ownership by Quarter for AudioCodes (NASDAQ:AUDC)

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